Goods and Services Tax – Started By: – SAFETAB LIFESCIENCE – Dated:- 14-12-2017 Last Replied Date:- 14-12-2017 – Respected Sirs, We are receiving bills for Raw Materials supply from GST registered persons with GST charged bills. After receipt at our end, we found some discrepancies in their GST bill such as Insurance, Freight and Price difference and short supply etc… Shall we raise Debit Note to our suppliers for the taxable value to be deducted + GST ???We were informed that we do not have rights to raise Debit Note for the goods purchased by us and only the supplier of goods (seller) has to give Credit Note ONLY. Kindly clarify whether we can raise Debit Note or Only seller has to give Credit Note or both are allowed for our debits to
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, 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. Also note that : 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; 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. And for the later case, where intend to give discount, you have to issue Credit note with GST. GST can be reversed for the value of discount and by mentioning it in GSTR 3B or GSTR-1 your liability to tha
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