Any such document, by whatever name called, when issued by the recipient to the registered supplier, is not a document recognized under the GST Law. There are two ways to compute the total GST amount on your tax invoice when several items of standard-rated supplies have been purchased: The total GST computed may differ due to rounding because of the method you have chosen. You must still issue receipts to customers if requested. Your customer needs to keep this tax invoice as a supporting document to claim input tax on his standard-rated purchases. Date of issue. Till now, the original invoice number was mandatory to be quoted by the taxpayers, while reporting a Credit Note or Debit Note in Form GSTR-1 or Form GSTR-6. Both supplier and customer agree in writing not to adjust the original GST amount. You must retain a duplicate of the receipt issued. This is to enable your customer to claim the GST incurred based on your tax invoice. Before we explain how debit note is define in GST. A supplier is allowed to reduce his tax liability by credit note only if the recipient of the supply accepts these details in Form GSTR-2. Your GST-registered customer needs to keep this customer accounting tax invoice as a supporting document to account for the output tax on the supply on your behalf as well as to claim the input tax on his purchase. Name, address, and GSTIN of the supplier. These details are available to the recipient in Form GSTR-2A, post which the recipient needs to accept the details and submit in Form GSTR-2. To correct a mistake (e.g. Also, Debit Notes and Credit Notes issue have to be declared in the GST returns filed in the following month for the month in which document is issued The details … Based on the GST rules and guidelines, a credit / debit note should contain: Name, address and GSTIN of supplier. If such credit notes are issued by the supplier, both supplier and customer do not need to adjust the value of their taxable supplies/purchases or related output/input tax. GST Tax Invoice, GST Credit Note Format in Excel, Debit Notes Formats in Excel ||GST Rule for Invoice, Credit Note, Debit Note Etc. You do not need to submit your updated list of suppliers covered by the self-billing arrangement but should retain the updated list as your business records. What are the credit note and debit note under GST? Taxable value in the inward supply invoice is less than the actual. Delivery Challan- GST Delivery Challan Format in Excel Debit Note- GST Debit note format in Excel Payment Voucher-GST Payment Voucher Format in Excel Credit Note Format- click here to download Credit Note Format in excel. commercial invoice). Details of such debit note has to be declared in the return for the month during which its issued. This invoice is issued within one month from the registration certificate date of issue. Rules of GST Debit Note 1) A revised tax invoice referred to in section 31 and credit or debit note referred to in section 34 shall contain the following particulars: The word “Revised Invoice”, wherever applicable, indicated prominently. A unique serial number for the current financial year. The records of the credit/debit note have to be retained until the end of seventy-two months from the due date of furnishing of annual return of the related year. Saral – An Accounting and Billing software by Relyon Softech Ltd is a GST compliant, user-friendly software that covers all your accounting and billing needs. Thus we can say that for the purpose of GST Supplementary tax invoice = Debit note. A credit note is a document or record which is allotted by the vendor or trader when the goods are returned by the purchaser or buyer.