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3145 Points Posted on 14 June 2022
what is mean by debit note and credit note in goods and services tax GST?


debit note and credit note what is in general in accounting??

can you please explain me with the GST and general meaning
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On 14 June 2022 at 21:29 Report
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Quick Summary
This discussion clarifies the meaning and usage of debit notes and credit notes in both general accounting and Goods and Services Tax (GST). Debit notes are typically used for purchase returns or invoice modifications, while credit notes are used for sales returns or invoice cancellations. Credit notes can also help reduce GST liability under Section 34 of the CGST Act 2017.

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CFO- at NHTF
58280 Points Posted on 14 June 2022
When the purchase invoice is cancelled/ purchase returns or modified then debit note may be used.

When the sales invoice is cancelled or sales Returns credit note may be used
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On 14 June 2022 at 21:35
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3145 Points Posted on 14 June 2022
In goods and services tax?
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On 14 June 2022 at 21:36
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Chartered Accountant
86505 Points Posted on 15 June 2022
Https://cleartax.in/s/debit-note-vs-credit-note
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On 15 June 2022 at 02:18
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GST Practitioner & Accounts
15150 Points Posted on 15 June 2022
Refer section 34 of the CGST act 2017.
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On 15 June 2022 at 07:26
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CFO- at NHTF
58280 Points Posted on 15 June 2022
Credit note can reduce the GST Liability
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On 15 June 2022 at 08:11
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Chartered Accountant
86505 Points Posted on 15 June 2022
You have already replied @ eshwar.
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On 15 June 2022 at 19:00
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3145 Points Posted on 15 June 2022

Thanks CA Rashmi Gandhi mam for replying 

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On 15 June 2022 at 19:01
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CFO- at NHTF
58280 Points Posted on 15 June 2022
Then why enter again @ Rasmi ?
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On 15 June 2022 at 19:02
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Chartered Accountant
86505 Points Posted on 15 June 2022
Welcome dear......
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On 15 June 2022 at 19:02

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