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of <h1>Understanding Section 34: Issuing Credit and Debit Notes for Tax Adjustments Under AP GST Act 2017</h1> Section 34 of the Andhra Pradesh Goods and Services Tax Act, 2017, addresses the issuance of credit and debit notes. When a tax invoice overstates the taxable value or tax, or if goods are returned or found deficient, the supplier may issue a credit note. This must be declared in the monthly return by September of the following financial year or before the annual return is filed, without reducing the output tax liability if the tax burden has been transferred. Conversely, if a tax invoice understates the taxable value or tax, a debit note must be issued and declared in the monthly return, with tax liability adjusted accordingly.
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