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of <h1>Suppliers Must Issue Debit Notes to Rectify Underreported Tax Amounts and Adjust Monthly Tax Liability Accurately</h1> A debit note is issued when the taxable value or tax in a tax invoice is found to be less than the actual amount payable. The registered supplier must declare debit note details in the monthly return, adjusting tax liability accordingly. The document must include specific details like supplier and recipient information, invoice reference, tax rates, and value. Issuance creates additional tax liability, and records must be retained for seventy-two months. This provides a legal mechanism for suppliers to correct and enhance original tax invoice values.
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