I would like to know when any party returned our goods for quality complain. Then what will be the procedure to return back the goods. Whether we will issue a Credit Note to the party or Party issued us a Debit Note and we will issue a Credit Note on basis on the Debit Note. Is it compulsory that party will take entry of the sale bill.
25 July 2018
When the goods are returned, a credit note can be issued to the buyer. Once the credit note is uploaded on GST portal, it reduces the GST liability of the supplier. It is not compulsory that the buyer takes entry of the goods.
CAclubindia
