Good Evening to all Experts
I am hare again for get your valuable reply regarding above subject . Sir I want to ask about Debit note liability Sir following query regarding Debit Note below
Suppose Gst on purchase goods from Vendor named (A)=100 and we take credit of that amount 100.
Sir suppose if we make debit note to supplier A gst amount 20 . Then in that case will we paid 20 rupees gst amount as liability??? Please reply urgent
You have reduced ITC 20/- from your total ITC for that month.
suppose your Total ITC for June is 50 & you issue an debit note ( purchase return) in which GST is 20 , then your net ITC for June will be 30/- (50-20= 30 )
CAclubindia
