jayesh mansukhbhai ghorecha asked 5 years ago
Credit Note and Debit note for purchase return
IT IS MANDATORY TO MENTION DEBIT NOTE FOR PURCHASE RETURN IN GSTR-1 ?
IT IS MENTIONED UNDER SECTION 34 OF CGST ACT,2017 TO MENTION THE DEBIT NOT IN RETURN.
CURRENTLY WHAT IS THE EXACT SITUATION REGARDING REPORTING OF DEBIT NOTE ?
Credit Note and Debit note for purchase return
Answer the question1 Answers
ConsultEase Administrator answered 5 years ago
You can issue and show a debit note anytime. But there is a condition for taking the input tax credit for a debit note. Section 16(4) will also be relevant here. Please take a case that a credit note or a debit note can be issued by the supplier of supply in GST. Buyer is not eligible to issue either a debit note or a credit note.
