Debit and credit note issue
Yash Jain (19 Points)
17 November 2019
If we are issue credit note to our customer then it is mandatory to take debit note from customer...???
4 Replies
Siva Raj
(358 Points)
Replied 17 November 2019
Yes then only you can confirm whether they reversed ITC which already availed in Original invoice
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 17 November 2019
It's not mandatory under GST.
But, As per accounting standards the Credit note will be accountable as Debit note in Buyers account...
So, No question required.
But, As per accounting standards the Credit note will be accountable as Debit note in Buyers account...
So, No question required.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 17 November 2019
Yes it's not mandatory ... as the Mr. Raja Ji reply.
Any way it's going to reflect in CNT/DNT section of 2A , the Recepient is liable to reverse it's ITC .
Any way it's going to reflect in CNT/DNT section of 2A , the Recepient is liable to reverse it's ITC .
DINESH KUMAR BALAKRISHNAN
(136 Points)
Replied 18 November 2019
Yes it is mandatory as far as the parties Books of A/c is concerned .for every CNT of one party , there must be a DNT must be recorded by the other party. Then only the current closing balance of both the parties must be equalised.
Rajasir is right that it is not mandatory asper GST Rule is concerned.
Rajasir is right that it is not mandatory asper GST Rule is concerned.
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