ICICI

Debit credit note


AJAY KUMAR (accountant)     19 November 2019

AJAY KUMAR
accountant 
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sir,
can only suppler issued debit credit notes ???
or buyer also issue debit credit note
plz clear also attached notification .

this is important to us

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DINESH KUMAR BALAKRISHNAN   19 November 2019

DINESH KUMAR BALAKRISHNAN

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Debit note is Issued by the buyer to the seller
credit note is issued by the seller to the buyer.

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AJAY KUMAR (accountant)     19 November 2019

AJAY KUMAR
accountant 
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Sir I think only seller issues credit debite note buyer only return goods on chalan basis or only deduct money for seller
plz check or

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DINESH KUMAR BALAKRISHNAN   19 November 2019

DINESH KUMAR BALAKRISHNAN

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Debit Note means Purchase return As far as Goods is concernd.
Credit Note is sales return- Goods is concerned

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Smart King   19 November 2019

Smart King

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Both can issue credit/debit notes as per their convenience or situation...

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DINESH KUMAR BALAKRISHNAN   19 November 2019

DINESH KUMAR BALAKRISHNAN

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Outstanding Management can also be done in both vouchers
Debit note means Bills Payable
Credit Note means Bills receivable

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Avirup Ghosh   19 November 2019

Avirup Ghosh

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I agree with mr. dinesh debit & credit note issue for both situation , a buyer or a seller or both can raised debit & credit note, for the requirements of the situation. daily i faced that issue , i am a junior accountant cum Lerner of a manufacturing co Pvt ltd

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DINESH KUMAR BALAKRISHNAN   19 November 2019

DINESH KUMAR BALAKRISHNAN

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Take care more while handling these voucher entries. Because it will affect parties Books of Alc In three ways
I. Accounts
2. Inventory and
3.statutory

prasad Nilugal (Accountant GST Practitioner . )     19 November 2019

prasad Nilugal
Accountant GST Practitioner .  
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Under  GST  Law  you have to  follow  section 34  of the CGST  act  2017 for Debit  Note & credit Note . 

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subhagan sreerangam   19 November 2019

subhagan sreerangam

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Section 34 of the CGST Act 2017 has specified the provisions of Credit note and Debit note.A Supplier of goods or service or both it mandatarorly required to issue a tax invoice.A revised tax invoice referred to in section 31 and Credit note or Debit note refered to in section 34 shall containing the following particulars.


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