whether excise / cst will be involved in rate difference/turn over disc. (credit note) to debtors

[Guest]

dear experts,

let me explain regarding credit note related issues.. we are manufacturer and sold goods to within a gujarat as well as outside gujarat after charged Excise Duty + vat / cst ... query is below mentioned..

1) suppose we require to give rate diff. credit note to debtors then should we charge excise duty + vat / cst .

2) suppose we require to give turn turn over dis. credit note to debtors then should we charge excise duty + vat / cst

3) suppose we require to give short supply credit note to debtors then should we charge excise duty + vat + cst..

actually what will the tax treatment (excise + vat/ cst ) pls. explain. on which value we have to provide credit note ..

please suggest and if possible give explanation with example.

regards,

Manan Pandya

ahmedabad

[Arun Kumar Singh]

Yes, you will issue the supplementary invoice for deference value of the goods. even if short/excess supply of goods on the basis of debit/credit notes.

[Guest]

thank you sir,

still i have doubt on my first & second point so pls. clear my confusion.

and you told about supplementary invoice , can you pls. more about on this invice related or can you pls. send any of format for supply. invoice.

regards,

Manan Pandya

AI Summary

Credit note tax treatment: use a supplementary invoice to reflect the differential value for tax accounting. The respondent indicates that adjustments should be effected by issuing a supplementary invoice for the differential value of goods and that this mechanism applies to short or excess supply situations effected through debit/credit notes; the supplementary invoice should record the adjustment value for corresponding excise and VAT/CST accounting.