REGARDING CORRECTION INVOICE

Debit Note issue kar sakten hain…

A debit note should be issued by a supplier in the following circumstances:

(a) The taxable value shown in the invoice is lesser than the taxable value of the supply, or

(b) The tax charged in the invoice is less than the tax payable on the supply

The following aspects need to be noted:

1. Where there is no change in the taxable value/ tax amount, a debit note must not be issued

2. A debit note has to be issued by the supplier. A debit note issued by a recipient, say for accounting purposes, is not a relevant document for GST purposes

3. The details of the debit note have to be declared by the supplier in the return of the month of the issue of debit note

4. Debit note includes a supplementary invoice