GST CREDIT AND DEBIT NOTES

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Yes, it is possible to issue both GST credit and debit notes for the same invoice. This is particularly relevant for businesses in sectors like FMCG where technical errors might lead to incorrect tax charges on different items within a single invoice. For instance, if an invoice mistakenly charges more tax on 5% items and less on 12% items, issuing both notes can rectify the discrepancy.

santosh

santosh (Querist)
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05 June 2020 Can we issue debit and credit note for same invoice?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 June 2020 Yes it can be issued.

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Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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07 June 2020 Yes possible but want to know what such situation has for issuing both notes for the same invoice...???

santosh

santosh (Querist)
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18 June 2020 thanks for replying bhagat ji, iam working in an FMCG Industry we come under bracket of 5% and 12% tax rates, due to some technical error in one invoice we had charged more in 5% tax rate items and charged less for 12% tax rate items , this is the reason we want to issue debit and credit notes.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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18 June 2020 OKAY then it will be possible to raise such notes.

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