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Define debit note & credit note

ITC / Input 183 views 1 replies

Ram kr.

Buisness

883 Points Joined November 2008

Dear Experts,

Whether we can raise debit note if rejected material return to supplier or Credit note will be raise by the supplier ? Please elaborate this Concept ?

Thanks & Regards

Replies (1)

debit note will be raised by the purchaser if the given material has defects or etc sold by seller.
and the seller or supplier will record the debit note in his accounts and will issue a credit note to you for the same. and the rejected materials eligible for return to the supplier in that case.