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Debit Note

304 views 2 replies

ganatra prakash

B.Com

109 Points Joined March 2015

Hello
I'm registered under GST

purchase machine of Rs 100000 +18000 Gst

machine not working as per requirements

so full N final only 70000 payment made out of 118000 and machine not send back

for Balance i want to Raise Debit note , so can I raise without GST ????

Without GST 48000

is it correct????

Replies (2)

Madhukar N Hiregange

Chartered Accountant

39039 Points Joined September 2008

It maybe preferable to debit GST back proportionately so that the vendor would issue credit note and adjust the GST paid extra. Rule 37 allows only proportionate credit to payment and tax paid.

Pankaj Rawat

GST Practitioner

55067 Points Joined June 2017

No you cannot raise Debit Note without Reducing GST.
As the machine going to cost you 70000/- & for 48k you cannot claim ITC . Hence have to Reverse the ITC for the same