Debit Note Treatment Under GST Regime

[Guest]

How is debit note issued by the supplier treated by the receiver? Please elaborate in brief Sir.

[ANITA BHADRA]

Dear Sir

Supplier will indicate details of debit note in his GSTR 1 . Recipient will either accept or reject Debit note issued by the supplier in GSTR 2

It s a same way like Recipient does in case of tax invoice .

Regards

[Guest]

Thank you Mam for your kind information.

[Kishan Barai]

You can make it in Microsoft Excel on your own format with your company logo & address with following content.
(a) name, address and Goods and Services Tax Identification Number of the supplier;
(b) nature of the document;
(c) a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters hyphen or dash and slash symbolised as “-” and “/” respectively, and any combination thereof, unique for a financial year;
(d) date of issue;
(e) name, address and Goods and Services Tax Identification Number or Unique Identity Number, if registered, of the recipient;
(f) name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is un-registered;
(g) serial number and date of the corresponding tax invoice or, as the case may be, bill of supply;
(h) value of taxable supply of goods or services, rate of tax and the amount of the tax debited to the recipient; and
(i) signature or digital signature of the supplier or his authorized representative.

AI Summary

Debit note GST must be reported by supplier in GSTR one and accepted or rejected by recipient in GSTR two. The supplier must indicate a debit note in GSTR-1 and the recipient must accept or reject that debit note in GSTR-2, paralleling the handling of tax invoices. The debit note must include supplier and recipient identification and GSTIN, document nature, a unique serial number and date, reference to the corresponding invoice, taxable value, tax rate and tax amount debited, and the supplier's signature or digital signature.