Credit on credit notes

[gowri shankar]

Dear sir,

We have received Credit notes from our customers for certain amount in a year.  Is it advisable to reverse the duty to the extent of amount for that credit notes

for Debit notes also

Is there any rules regarding this in Central Excise.

[Guest]

To,

Mr. Gauri shankar

you received credit note for - why , it is a rate differance. or qty short received / excess received if any you can generate excise invoice for that and explain all in the invoices.

Regards

Manoj

AI Summary

Guidance on Handling Credit Notes Related to Central Excise Duties and Necessary Invoice Adjustments for Rate or Quantity Changes A participant in a discussion forum inquired about handling credit notes received from customers in relation to Central Excise duties, questioning whether it's advisable to reverse the duty for the credited amounts. The response suggested that if the credit note is due to rate differences or quantity discrepancies, an excise invoice should be generated to account for these details.