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Querist : Anonymous

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Querist : Anonymous (Querist)
16 July 2012 what is the difference between credit note and debit note?
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Amol S Joglekar

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Amol S Joglekar (Expert)
16 July 2012 The note (LETTER) containing credit for the addressee is called CREDIT note and debit for the addressee is called DEBIT note.
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CA BHARATH KUMAR

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CA BHARATH KUMAR (Expert)
17 July 2012 When the purchaser returns the goods to the seller the Purchaser sends a Debit Note to the seller (ie. the purchaser debits the seller in his books ie. Purchasers Books) and the Seller sends a Credit Note to the purchaser (ie. the seller credits the Purchaser in his Books ie. Sellers Books).
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