Dear Experts,
1. Can we issue Debit or Credit Note for rate variation and rejected material returned to supplier. Pl. tell me role of debit or credit note in excise point of view.
2. Can we take cenvat credit on credit or debit note.
Thanks
Ram kr. (Buisness) (883 Points)
30 June 2009Dear Experts,
1. Can we issue Debit or Credit Note for rate variation and rejected material returned to supplier. Pl. tell me role of debit or credit note in excise point of view.
2. Can we take cenvat credit on credit or debit note.
Thanks
Arun Kumar Singh
(GST Advocate)
(15203 Points)
Replied 01 July 2009
Yes, you can entry in debit or credit note for your convenience. Rejected material will be as such removal. You can take cenvat credit on credit or debit note.
Ram kr.
(Buisness)
(883 Points)
Replied 01 July 2009
Dear Expert,
1. If we can take material with Debit Note it means no need of Invoice copy Original of Buyer, Duplicate of Transportor and Triplicate for Assesse copy .
2. If so then please tell me difference of Supplementary bill and Debit Note.
Thanks
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 05 July 2009
I do not agree with Arun Kumar Singh. Kindly quote the rules where it is permissible to take credit on debit/credit notes.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
