When to raise Debit note in books
The purchas party itselft makes eway bill and accepts damage goods on delivery challan base but doesnt provide credit note the same day as it take 2 3 month so when to file Debit note and how to clear mismatch of Ledger of party. what if i file debit note early but later our and their amount mismatch due to acceptable and non acceptable goods.
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Purchase Return or Debit Note
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Quick Summary
Better to raise debit note when your supplier issues a credit note and also take effect of this in gstr3b in same month i.e. reversal of itc claimed .
A debit note is issued when there is a purchase return and reduces receivables, while a credit note is issued when there is a sales return and reduces payables.
When the buyer records a purchase return, it can be either as a credit to its inventory account (if there are few such transactions) or to a purchase returns account (if management wants to segregate this information for further analysis). The offsetting debit is to the accounts payable account.
What to of Eway bill which is been raised before and credit not raised by party after 2 months and what to do with inventory before 2 month how to show it in Books.
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