Section 34
Credit and debit notes.
GST
TAX INVOICE, CREDIT AND DEBIT NOTES
Section 34 of Central Goods And Services Tax Act, 2017
Credit and debit notes.
34. (1) 1[Where one or more tax invoices have] been issued for supply of any goods or services or both and the taxable value or tax charged in that tax invoice is found to exceed the taxable value or tax payable in respect of such supply, or where the goods supplied are returned by the recipient, or where goods or services or both supplied are found to be deficient, the registered person, who has supplied such goods or services or both, may issue to the recipient 2[one or more credit notes for supplies made in a financial year] containing such particulars as may be prescri
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ecipient is a registered person; or
(ii) incidence of tax on such supply has been passed on to any other person, in other cases.]
(3) 3[Where one or more tax invoices have] been issued for supply of any goods or services or both and the taxable value or tax charged in that tax invoice is found to be less than the taxable value or tax payable in respect of such supply, the registered person, who has supplied such goods or services or both, shall issue to the recipient 4[one or more debit notes for supplies made in a financial year] containing such particulars as may be prescribed.
(4) Any registered person who issues a debit note in relation to a supply of goods or services or both shall declare the details of such debit note in the retu
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it was read as, “Where a tax invoice has”
4.
Substituted vide Section 15 of the Central Goods and Services Tax (Amendment) Act, 2018 w.e.f. 01-02-2019 before it was read as, “a debit note”
5.
Substituted vide Section 102 of the Finance Act, 2022 w.e.f. 01-10-2022 before it was read as, “September”
6.
Substituted vide Section 126 of the Finance Act, 2025 w.e.f. 01-10-2025 before it was read as,
“Provided that no reduction in output tax liability of the supplier shall be permitted, if the incidence of tax and interest on such supply has been passed on to any other person.”
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Statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation
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