Details mentioned in credit note in case of Sales Returns

[SANDESH SHINDE]

Dear Sir,

In case of Sales return if purchaser has availed credit and if purchaser has not availed credit then if we as a supplier has availed credit after returning back the goods to us on the basis of our own duplicate copy sent alongwith goods.Please explain what details will be mentioned by both debtor in case of debit note and us as a creditor in case of credit note in both the above mentioned cases.Please expalin, please give us any reference regarding this. thanks and regards.

AI Summary

Key Details for Credit Notes on Sales Returns: Excise and CENVAT Credit Considerations Explained A discussion on a forum addresses the details required in credit notes for sales returns, particularly concerning the Central Excise and CENVAT credit. A participant queries about the necessary details in credit and debit notes when goods are returned, and if credit has been availed. Responses suggest that if the purchaser has taken credit, they should return goods with an Excise Invoice, while if not, the supplier can avail CENVAT. It is advised to document the reason for rejection, preferably related to quality, and ensure the rejection is recent. Credit notes should include detailed information such as identifying numbers, dates, and descriptions of returned goods. Debit and credit notes should not be used simultaneously in accounting.