Debit notes and credit notes are accounting documents used by businesses for different purposes, like Sales and Purchase returns, discounts after sales, and corrections in the Invoice. A supplier of goods or services will issue the Debit Note and Credit Note in accordance with GST Rules. Credit Notes are generated for both sales returns and post-sale discounts. When an invoice needs to be corrected, a debit note is issued to increase the sales value.
Topics Covered:-
1. What is a credit note
2. What is the meaning of a Debit Note
3. What is a debit note and credit note in GST
4. Debit note and credit note format
5. Credit note entry in tally prime
6. Debit note entry in tally prime
7. When to issue a credit note
8. When to issue a debit note
9. Debit and credit note rules in GST
10. All about debit and credit note
11. Who is responsible for the issuance of a debit or credit note
12. Difference between debit and credit note

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