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

Credit note adjustments require issuing an excise invoice explaining rate or quantity differences to permit duty correction. Issue an excise invoice documenting the reason for customer credit notes-such as rate differences or quantity shortfalls/excesses-to record and permit reversal or correction of duty to the extent the credit reduces assessable value; the reply emphasizes invoice-level explanation rather than citing a specific Central Excise provision.