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All QuestionsCategory: GST CompliancesCredit Note and Debit note for purchase return
Profile photo of jayesh mansukhbhai ghorechajayesh mansukhbhai ghorecha asked 6 months 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 ?

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1 Answers
Profile photo of Consultease AdministratorConsultease Administrator answered 5 months 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.