Debit Note in GST [Section 34(3) & 34(4) ]
Tax Invoice, Bill of Supply, Debit Notes, Credit Notes – GST Ready Reckoner
GST
Debit Note in GST
Meaning (as per Section 34(3) of CGST Act)
When a tax invoice has 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 a debit note containing the prescribed particulars.
Time limit of declaration of Debit note (as per Section 34(4) of CGST Act)
Any registered person who issues a debit note shall declare the details of such debit note in
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f) name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is un-registered;
g) serial number and date of the corresponding tax invoice or, as the case may be, bill of supply;
h) value of taxable supply of goods or services, rate of tax and the amount of the tax debited to the recipient; and
i) signature or digital signature of the supplier or his authorized representative.
Tax liability:
The issuance of a debit note or a supplementary invoice creates additional tax liability. The treatment of a debit note or a supplementary invoice would be identical to the treatment of a tax invoice as far as returns and payment are concerned.
Records:
The records of the debit no
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