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debit & credit note

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 June 2011 In which circumstitance we issued the debit & credit note? In that matter we take reverse the vat or excise to party .
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Kumar Babu.G

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Kumar Babu.G (Expert)
27 June 2011 If we want to debit a party's a/c then we will issue debit note,lly if we want to credit a party's account then we will issue credit note.Yes in this case we will reverse VAT.Excise duty charged to that party.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
06 July 2023 "Sorry, I am not a featured member."

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