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Debit note credit note

Andrio Kyong (24 Points)

22 February 2021

if company uploaded Credit note in GSTR1 against out GST, then is it necessary for us to issue debit note for the same?

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Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (3303 Points)
Replied 22 February 2021

Credit note is raised or issued by a seller or a vendor whereas a debit note is issued by a purchaser or customer. ... When a credit note is issued, sales return account is debited and customer account is credited whereas when a debit note is issued, supplier's account is debited and customer's account is credited.

The reporting of credit/debit notes on the GST portal was made in GSTR-1. It can be classified as follows: Credit note/debit note issued to unregistered persons (B2C supplies): It must be declared in Table '9B – Credit/Debit Notes (Unregistered)'

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Andrio Kyong (24 Points)
Replied 22 February 2021

Thank you.
my concern or my question is whether we need to counter issue debit note everytime seller issues credit note??

CA Altamush Zafar (GST Consultant) (15907 Points)
Replied 22 February 2021

You will issue debit note but it will only for accounting purpose. You will not upload such document in your gstr-1 since you are the purchaser.

Bhavika Kothari (CA) (1258 Points)
Replied 28 February 2021

Yes you need to but it will be a part of purchase register

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Nitesh Bherwani (5 Points)
Replied 23 July 2021

What if the receipent has already generated Debit Note on portal towards his supplier but supplier has not uploaded Credit Note for the same...then is it necessary for the supplier to upload Credit Note in its GSTR-1..???