9911796707
TMI BlogGST - ISSUING OF DEBIT NOTE BY THE BUYERX X X X Extracts X X X X X X X X Extracts X X X X ..... GST - ISSUING OF DEBIT NOTE BY THE BUYER X X X X Extracts X X X X X X X X Extracts X X X X ..... ms like this. The suppliers simply ask us to deduct the amount and raise Debit Note. Whether we can raise Debit Note against suppliers Invoice ??? We were informed and come to understand that only Suplliers can raise Credit Note or Debit Note against their own Invices and Buyers can not raise CN or DN against suppliers Invoice under GST act. Please clarify. Reply By SHARAD ANADA: The Reply: As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... k supplier to issue credit Note. As credit Note issued by supplier is a GST document. And credit note issued by supplier only can be uploaded by him in his GST returns. If supplier issues credit note and uploaded in gst returns he reduces his out put tax liability and recepient reduces his input tax credit. CN/DN issued by recepient is only accounting document. Receipt can not upload cn dn in his ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... own GST returns Reply By Rajagopalan Ranganathan: The Reply: Sir, You are right. In your case your supplier can issue a credit note for Freight charges, Insurance charges which, in your opinion is not payable by you. Reply By KASTURI SETHI: The Reply: Dear Querist, Also go through Board's Flyer appended below:- Debit Note in GST Reply By Ganeshan Kalyani: The Reply: Under GST only s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... upplier should issue credit note or debit note as the case may be. However , buyer can issue debit note. In fact buyer is the first person to deny the acceptance of the material or any other cost component in the invoice. So buyer issues debit note based on which supplier issues credit note. Of course credit note or debit note to be issued by supplier for the purpose of compliance in the GST porta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l in the sense that it auto populates in the GSTR-2A of the recipient compelling him to reverse his input tax credit. Since GSTR 2A matching in not mandatory the purpose of making supplier to upload both the aforesaid note is not visible. Reply By Ganeshan Kalyani: The Reply: The sequence of raising "purchase requisition ", "purchase order" , "goods receipt note (MIGO)&q ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uot;, "MIRO", payment etc are set up in an organisation to track such difference which the querist has observed and rectify it.
Reply By DR.MARIAPPAN GOVINDARAJAN:
The Reply:
I endorse the views of experts. X X X X Extracts X X X X X X X X Extracts X X X X
|
