credit note
Akshat Kumawat (51 Points)
02 October 2018
please tell me when credit note is issued by supplier??
2 Replies
Deepak Gupta
(CA Student)
(15922 Points)
Replied 02 October 2018
A credit note can be issued by a supplier only in the following circumstances:
(a) The taxable value shown in the invoice exceeds the taxable value of the supply
(b) The tax charged in the invoice exceeds the tax payable on the supply
(c) The goods supplied are returned by the recipient
(d) The goods/services are found to be deficient
Sec. 34(1) of CGST Act
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