{"id":32824,"date":"2026-08-16T00:03:26","date_gmt":"2026-08-15T18:33:26","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=32824"},"modified":"2026-08-16T00:15:11","modified_gmt":"2026-08-15T18:45:11","slug":"gst-credit-vs-debit-note","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/gst-credit-vs-debit-note\/","title":{"rendered":"GST Credit vs Debit Note: Meaning, Accounting, ITC Impact"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a80d56de3288\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a80d56de3288\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/gst-credit-vs-debit-note\/#GST_Credit_Note_vs_Debit_Note_Complete_Guide_to_Meaning_Accounting_Entries_ITC_Impact_GST_Compliance\" title=\"GST Credit Note vs Debit Note: Complete Guide to Meaning, Accounting Entries, ITC Impact &amp; GST Compliance\">GST Credit Note vs Debit Note: Complete Guide to Meaning, Accounting Entries, ITC Impact &amp; GST Compliance<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/gst-credit-vs-debit-note\/#Difference_between_a_GST_credit_note_and_debit_note\" title=\"Difference between a GST credit note and debit note:\u00a0\">Difference between a GST credit note and debit note:\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/gst-credit-vs-debit-note\/#1_When_is_a_GST_Credit_Note_Issued\" title=\"1. When is a GST Credit Note Issued?\">1. When is a GST Credit Note Issued?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/gst-credit-vs-debit-note\/#Suppliers_Entry\" title=\"Supplier&#8217;s Entry\">Supplier&#8217;s Entry<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/gst-credit-vs-debit-note\/#Recipients_Entry\" title=\"Recipient&#8217;s Entry\">Recipient&#8217;s Entry<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/gst-credit-vs-debit-note\/#2_When_is_a_GST_Debit_Note_Issued\" title=\"2. When is a GST Debit Note Issued?\">2. When is a GST Debit Note Issued?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/gst-credit-vs-debit-note\/#Suppliers_Entry-2\" title=\"Supplier&#8217;s Entry\">Supplier&#8217;s Entry<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/gst-credit-vs-debit-note\/#Recipients_Entry-2\" title=\"Recipient&#8217;s Entry\">Recipient&#8217;s Entry<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/gst-credit-vs-debit-note\/#3_GST_Return_Reporting\" title=\"3. GST Return Reporting\">3. GST Return Reporting<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/gst-credit-vs-debit-note\/#4_Impact_on_Input_Tax_Credit_ITC\" title=\"4. Impact on Input Tax Credit (ITC)\">4. Impact on Input Tax Credit (ITC)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/gst-credit-vs-debit-note\/#5_Key_Compliance_Risks\" title=\"5. Key Compliance Risks\u00a0\">5. Key Compliance Risks\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/gst-credit-vs-debit-note\/#What_is_the_difference_between_a_GST_credit_note_and_debit_note\" title=\"What is the difference between a GST credit note and debit note?\">What is the difference between a GST credit note and debit note?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/carajput.com\/blog\/gst-credit-vs-debit-note\/#Ultimate_Takeaway-_Golden_Rule\" title=\"Ultimate Takeaway- Golden Rule:\">Ultimate Takeaway- Golden Rule:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/carajput.com\/blog\/gst-credit-vs-debit-note\/#At_a_Glance_goods_and_services_tax_Credit_Note_vs_Debit_Note\" title=\"At a Glance: goods and services tax Credit Note vs Debit Note\">At a Glance: goods and services tax Credit Note vs Debit Note<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-32825\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2026\/08\/1786354435044.jpg\" alt=\"GST Credit Note vs Debit Note\" width=\"880\" height=\"1320\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2026\/08\/1786354435044.jpg 480w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2026\/08\/1786354435044-200x300.jpg 200w\" sizes=\"(max-width: 880px) 100vw, 880px\" \/><\/p>\n<div>\n<h2><span class=\"ez-toc-section\" id=\"GST_Credit_Note_vs_Debit_Note_Complete_Guide_to_Meaning_Accounting_Entries_ITC_Impact_GST_Compliance\"><\/span><span style=\"color: #000080;\">GST Credit Note vs Debit Note: Complete Guide to Meaning, Accounting Entries, ITC Impact &amp; GST Compliance<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div>\n<p>\ud83d\udd39 <strong>Credit Note<\/strong><\/p>\n<ul>\n<li>Issued when the taxable value or goods and services tax charged earlier needs to be reduced (subject to GST law conditions).<\/li>\n<li>May arise due to sales return, post-sale discount, deficiency in goods\/services, etc.<\/li>\n<li>Results in a reduction of the supplier&#8217;s output tax liability, where legally permissible.<\/li>\n<li>The recipient must reverse\/reduce the corresponding input tax credit to the extent attributable to the credit note.<\/li>\n<\/ul>\n<p>\ud83d\udd39 <strong>Debit Note<\/strong><\/p>\n<ul>\n<li>Issued when the taxable value or goods and services tax charged earlier needs to be increased.<\/li>\n<li>May arise due to underbilling, price revision upward, short recovery of tax, etc.<\/li>\n<li>Results in an increase in the supplier&#8217;s output tax liability.<\/li>\n<li>The recipient may claim additional input tax credit, subject to eligibility and other provisions of the GST law.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Difference_between_a_GST_credit_note_and_debit_note\"><\/span><span style=\"color: #000080;\">Difference between a GST credit note and debit note:\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/div>\n<\/div>\n<p>GST Credit Notes and Debit Notes, their accounting treatment, goods and services tax implications, ITC impact, return reporting, and compliance requirements. Here&#8217;s a simplified explanation:<\/p>\n<div>\n<div class=\"___1dmoc29 f10pi13n ftgm304 f1enuhaj fdclmfp f1nbblvp fat0sn4 f1ov4xf1 fekwl8i f1lmfglv f1oz7aqm f1abmfm4 f1w619qj f16h0jq8\">\n<table class=\"___1vyiefv f1ddd56o f16vktn6 f1ahpp82 f11qra4b f1uinfot fibjyge fvueend f9yszdx f1fu4s3n f3l3pb3 f10ghnd0 f8fmt76 fjvbh62 f1qrqxae f1vw5qpk fc02sbz fxawf59 fymf513 f1aoyrul f1el8yx3 f1pymoxg f1ofu761 fe6itr f7coize f1794535 f1o0pw0q fbjjl9v fk1v6el f16pyhcb f1ixlhx9 f12zef0i flu5r5u f19haqzy f1owmcxx f1oddm8q f1004tna fcoaxci fh0ee9u f15v23i2 f1dmj53 f1r1gcv9 f14z1veh ffufd3x f1ypplot f1660cg\">\n<tbody>\n<tr>\n<th>Particulars<\/th>\n<th>Credit Note<\/th>\n<th>Debit Note<\/th>\n<\/tr>\n<tr>\n<th scope=\"row\"><strong>Meaning<\/strong><\/th>\n<td>Issued to reduce the taxable value or GST charged in the original invoice<\/td>\n<td>Issued to increase the taxable value or GST charged in the original invoice<\/td>\n<\/tr>\n<tr>\n<th scope=\"row\"><strong>Issued By<\/strong><\/th>\n<td>Supplier<\/td>\n<td>Supplier<\/td>\n<\/tr>\n<tr>\n<th scope=\"row\"><strong>Effect on Invoice Value<\/strong><\/th>\n<td>Reduces invoice value<\/td>\n<td>Increases invoice value<\/td>\n<\/tr>\n<tr>\n<th scope=\"row\"><strong>GST Impact<\/strong><\/th>\n<td>May reduce supplier&#8217;s output tax liability (subject to legal conditions)<\/td>\n<td>Increases supplier&#8217;s output tax liability<\/td>\n<\/tr>\n<tr>\n<th scope=\"row\"><strong>Recipient&#8217;s ITC<\/strong><\/th>\n<td>Recipient must reverse\/reduce input tax credit proportionately<\/td>\n<td>Recipient may claim additional input tax credit, if eligible<\/td>\n<\/tr>\n<tr>\n<th scope=\"row\"><strong>Common Reasons<\/strong><\/th>\n<td>Sales return, post-sale discount, short supply, defective goods\/services<\/td>\n<td>Price revision upward, under-billing, short tax charged<\/td>\n<\/tr>\n<tr>\n<th scope=\"row\"><strong>Accounting Impact<\/strong><\/th>\n<td>Reduces revenue and goods and services tax liability<\/td>\n<td>Increases revenue and goods and services tax liability<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h3><span class=\"ez-toc-section\" id=\"1_When_is_a_GST_Credit_Note_Issued\"><\/span><span style=\"color: #000080;\">1. When is a GST Credit Note Issued?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A supplier issues a credit note when goods are returned by the customer, goods are found defective, there is a deficiency in services, a post-sale discount is provided, and the taxable value or goods and services tax originally charged exceeds the correct amount. Example<\/p>\n<p>Original Invoice:<\/p>\n<ul>\n<li>Taxable Value = \u20b9100,000<\/li>\n<li>GST @18% = \u20b918,000<\/li>\n<\/ul>\n<p>Later, goods worth \u20b920,000 are returned.<\/p>\n<p>Credit Note:<\/p>\n<ul>\n<li>Value Reduction = \u20b920,000<\/li>\n<li>GST Reduction = \u20b93,600<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Suppliers_Entry\"><\/span>Supplier&#8217;s Entry<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<pre><code>Sales Return A\/c Dr.       \u20b920,000\r\nOutput CGST A\/c Dr.         \u20b91,800\r\nOutput SGST A\/c Dr.         \u20b91,800\r\n      To Customer A\/c              \u20b923,600\r\n<\/code><\/pre>\n<h3><span class=\"ez-toc-section\" id=\"Recipients_Entry\"><\/span>Recipient&#8217;s Entry<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<pre><code>Supplier A\/c Dr.           \u20b923,600\r\n      To Purchase Return A\/c     \u20b920,000\r\n      To Input CGST A\/c           \u20b91,800\r\n      To Input SGST A\/c           \u20b91,800\r\n<\/code><\/pre>\n<p>The recipient reverses ITC of \u20b93,600.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_When_is_a_GST_Debit_Note_Issued\"><\/span><span style=\"color: #000080;\">2. When is a GST Debit Note Issued?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A supplier issues a debit note when the invoice value was understated, an additional quantity was supplied, the price escalated after invoicing, and GST was short-charged originally. Example<\/p>\n<p>Original Invoice:<\/p>\n<ul>\n<li>Taxable Value = \u20b91,00,000<\/li>\n<li>GST @18% = \u20b918,000<\/li>\n<\/ul>\n<p>Later, value revised to:<\/p>\n<ul>\n<li>\u20b91,10,000<\/li>\n<\/ul>\n<p>Increase:<\/p>\n<ul>\n<li>Value = \u20b910,000<\/li>\n<li>GST = \u20b91,800<\/li>\n<\/ul>\n<p>Debit Note issued for \u20b911,800.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Suppliers_Entry-2\"><\/span>Supplier&#8217;s Entry<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<pre><code>Customer A\/c Dr.           \u20b911,800\r\n      To Sales A\/c                \u20b910,000\r\n      To Output GST A\/c            \u20b91,800\r\n<\/code><\/pre>\n<h3><span class=\"ez-toc-section\" id=\"Recipients_Entry-2\"><\/span>Recipient&#8217;s Entry<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<pre><code>Purchase A\/c Dr.           \u20b910,000\r\nInput GST A\/c Dr.           \u20b91,800\r\n      To Supplier A\/c             \u20b911,800\r\n<\/code><\/pre>\n<p>The recipient can claim additional ITC of \u20b91,800, subject to eligibility.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_GST_Return_Reporting\"><\/span><span style=\"color: #000080;\">3. GST Return Reporting<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Credit Note:\u00a0Reported in GSTR-1 of the supplier and reflected in the recipient&#8217;s GSTR-2B. Tax liability reduction is permitted only if conditions under goods and services tax law are satisfied.<\/li>\n<li>Debit Note :\u00a0Reported in GSTR-1 of the supplier and reflected in the recipient&#8217;s GSTR-2B. Additional tax liability becomes payable in the reporting period.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"4_Impact_on_Input_Tax_Credit_ITC\"><\/span><span style=\"color: #000080;\">4. Impact on Input Tax Credit (ITC)<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Credit Note: Recipient must reduce eligible input tax credit and reverse the input tax credit where required. Because the tax component itself has been reduced.<\/li>\n<li>Debit Note: The recipient\u00a0may Claim additional input tax credit, Subject to Section 16 conditions and time limits<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"5_Key_Compliance_Risks\"><\/span><span style=\"color: #000080;\">5. Key Compliance Risks\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-32497\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2025\/11\/1784686150456_edited.jpg\" alt=\"Tax Invoice, Debit Note &amp; Credit Note (GST)\" width=\"879\" height=\"1256\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2025\/11\/1784686150456_edited.jpg 480w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2025\/11\/1784686150456_edited-210x300.jpg 210w\" sizes=\"(max-width: 879px) 100vw, 879px\" \/><\/p>\n<ul>\n<li>Wrong GSTIN, wrong invoice reference, improper tax adjustment, non-reversal of ITC on credit note, delay in reporting documents, and mismatch between books and GST returns. These issues can lead to interest, penalty, ITC disallowance, and GST notices.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_difference_between_a_GST_credit_note_and_debit_note\"><\/span><span style=\"color: #000080;\">What is the difference between a GST credit note and debit note?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"___1dmoc29 f10pi13n ftgm304 f1enuhaj fdclmfp f1nbblvp fat0sn4 f1ov4xf1 fekwl8i f1lmfglv f1oz7aqm f1abmfm4 f1w619qj f16h0jq8\">\n<table class=\"___1vyiefv f1ddd56o f16vktn6 f1ahpp82 f11qra4b f1uinfot fibjyge fvueend f9yszdx f1fu4s3n f3l3pb3 f10ghnd0 f8fmt76 fjvbh62 f1qrqxae f1vw5qpk fc02sbz fxawf59 fymf513 f1aoyrul f1el8yx3 f1pymoxg f1ofu761 fe6itr f7coize f1794535 f1o0pw0q fbjjl9v fk1v6el f16pyhcb f1ixlhx9 f12zef0i flu5r5u f19haqzy f1owmcxx f1oddm8q f1004tna fcoaxci fh0ee9u f15v23i2 f1dmj53 f1r1gcv9 f14z1veh ffufd3x f1ypplot f1660cg\" style=\"height: 263px;\" width=\"829\">\n<tbody>\n<tr>\n<th><span style=\"color: #000080;\">Basis<\/span><\/th>\n<th><span style=\"color: #000080;\">Credit Note<\/span><\/th>\n<th><span style=\"color: #000080;\">Debit Note<\/span><\/th>\n<\/tr>\n<tr>\n<td>Purpose<\/td>\n<td>Reduce taxable value\/tax<\/td>\n<td>Increase taxable value\/tax<\/td>\n<\/tr>\n<tr>\n<td>Supplier&#8217;s Output Tax<\/td>\n<td>Decreases<\/td>\n<td>Increases<\/td>\n<\/tr>\n<tr>\n<td>Recipient ITC<\/td>\n<td>Reversed\/Reduced<\/td>\n<td>Additional ITC available<\/td>\n<\/tr>\n<tr>\n<td>Revenue Impact<\/td>\n<td>Reduces revenue<\/td>\n<td>Increases revenue<\/td>\n<\/tr>\n<tr>\n<td>Typical Cases<\/td>\n<td>Sales return, discount, defects<\/td>\n<td>Price escalation, short billing<\/td>\n<\/tr>\n<tr>\n<td>GST Liability<\/td>\n<td>Reduced (subject to conditions)<\/td>\n<td>Increased immediately<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h3><span class=\"ez-toc-section\" id=\"Ultimate_Takeaway-_Golden_Rule\"><\/span><span style=\"color: #000080;\">Ultimate Takeaway- <strong style=\"font-size: 16px;\">Golden Rule:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div>\n<ul>\n<li>Credit Note = Reduction in Tax Liability: Credit Note = Reduction in value, tax and (subject to law) supplier&#8217;s GST liability<\/li>\n<li>Debit Note = Increase in Tax Liability. Debit Note = Increase in value, tax and supplier&#8217;s GST liability<\/li>\n<li>The recipient must appropriately adjust input tax credit whenever a GST Credit Note results in a reduction of eligible input tax credit. So the recipient must adjust ITC accordingly: reverse input tax credit for credit notes and claim additional eligible input tax credit for debit notes.<strong><br \/>\n<\/strong><\/li>\n<\/ul>\n<div>\n<div>\n<h3><span class=\"ez-toc-section\" id=\"At_a_Glance_goods_and_services_tax_Credit_Note_vs_Debit_Note\"><\/span><span style=\"color: #000080;\">At a Glance: goods and services tax Credit Note vs Debit Note<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div class=\"___1dmoc29 f10pi13n ftgm304 f1enuhaj fdclmfp f1nbblvp fat0sn4 f1ov4xf1 fekwl8i f1lmfglv f1oz7aqm f1abmfm4 f1w619qj f16h0jq8\">\n<table class=\"___1vyiefv f1ddd56o f16vktn6 f1ahpp82 f11qra4b f1uinfot fibjyge fvueend f9yszdx f1fu4s3n f3l3pb3 f10ghnd0 f8fmt76 fjvbh62 f1qrqxae f1vw5qpk fc02sbz fxawf59 fymf513 f1aoyrul f1el8yx3 f1pymoxg f1ofu761 fe6itr f7coize f1794535 f1o0pw0q fbjjl9v fk1v6el f16pyhcb f1ixlhx9 f12zef0i flu5r5u f19haqzy f1owmcxx f1oddm8q f1004tna fcoaxci fh0ee9u f15v23i2 f1dmj53 f1r1gcv9 f14z1veh ffufd3x f1ypplot f1660cg\">\n<tbody>\n<tr>\n<th>Particulars<\/th>\n<th>Credit Note<\/th>\n<th>Debit Note<\/th>\n<\/tr>\n<tr>\n<td>Purpose<\/td>\n<td>Reduce taxable value\/tax<\/td>\n<td>Increase taxable value\/tax<\/td>\n<\/tr>\n<tr>\n<td>Supplier&#8217;s Output Tax Liability<\/td>\n<td>Decreases (subject to conditions)<\/td>\n<td>Increases<\/td>\n<\/tr>\n<tr>\n<td>Recipient&#8217;s input tax credit<\/td>\n<td>Reduced\/Reversed, as applicable<\/td>\n<td>Additional input tax credit may be claimed, if eligible<\/td>\n<\/tr>\n<tr>\n<td>Common Reasons<\/td>\n<td>Sales return, discount, deficiency in supply<\/td>\n<td>Underbilling, price escalation, short tax charged<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>GST Credit Note vs Debit Note: Complete Guide to Meaning, Accounting Entries, ITC Impact &amp; GST Compliance \ud83d\udd39 Credit Note Issued when the taxable value or goods and services tax charged earlier needs to be reduced (subject to GST law conditions). May arise due to sales return, post-sale discount, deficiency in goods\/services, etc. Results in &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9108],"tags":[10534],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/32824"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=32824"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/32824\/revisions"}],"predecessor-version":[{"id":32830,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/32824\/revisions\/32830"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=32824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=32824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=32824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}