Debit credit note

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

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

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

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

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

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

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

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

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.

Sir if buyer issued a debit note then I reverse my purchase

Dear Ajay :
Yes as everyone above quoted the section 34 of CGST Act , that Only supplier can issue Credit or Debit note which is correctly replied. But .... nobody reply "Why only Supplier"

Because of the format of Return Filing in GST.
As it's supplier who is going to file his outward supply in GSTR 1 , & which is going to Reflect in 2A (Earlier GSTR 2) & on the basis of Credit or Debit note reported in GSTR 1 filed by supplier , the Recepient is allowed to Reduce his ITC . means the Recepient can only Reduce his ITC when supplier has reduced his Output tax by issuing the credit Note & moreover the Recepient cannot file his return before supplier.

GST Return format is based on Matching system means ,the claim for reduction in output tax liability by supplier that matches with the corresponding reduction in the claim for input tax credit by Recepient.

Note : The debit/credit can be issue by Recepient only for Accounting Purpose.