02 May 2012
Hi Members, Please suggest can we issue a debit note on rate diffrences in P.O. & invoice, & can we avail cenvat credit on that debit note For Ex- if we got an excise invoice from our vendor can we issue a debit note to him including excise.
Guest
Guest
(Expert)
02 May 2012
It is better to ask the vendor for a credit note. It is preferred by any auditor also. Because we cannot enforce any debit note on the vendor. You need to get its acceptance to enforce it. Any way if debit note is given, which is fine, keep the vendor in the loop and take its acceptance on it
02 May 2012
Thanks for your reply sir, i have one more query, can we include the amount of excise duty on the debit note or can vendor claim cenvat on that debit/credit note
Guest
Guest
(Expert)
02 May 2012
Yes we have to include the amount of excise duty, provided, we dont claim the cenvat credit of it. And also vendor shall agree to it bcz he may have dischrge his liability for the same. In any case the vendor shall be appraised about this activity.
CAclubindia
