Concept of Revised Invoice,Debit Note and Credit Note

Last updated at August 14, 2026 by

When a shopkeeper makes Sales
Shopkeeper issued Customer Tax Invoice or Bill of Supply
 
Suppose Customer Returns goods

Who issues Invoice -Shopkeeper or Customer

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Lets understand it with help of example

debit credit note.jpg

 

Question

Why it is Credit Note for Seller

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Question

Why it is Debit Note for Buyer?

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Transcript

Sales P Sales Return P Sells goods to Q Q Returns Goods to P It is Sales for P Purchase for Q` It is Sales Return for P Purchase Return for Q Q P Q P will give Q Tax Invoice or Bill of Supply P will give Q Revised Invoice (Always Seller Issue Invoice) (Always Seller Issue Invoice) This Revised invoice is Credit Note for P and Debit Note for Q Concept of Revised invoice Debit Note and Credit Note

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant with 16+ years of practical experience and 20+ years of teaching experience. At Teachoo, he simplifies Accounts, Tax and GST with step-by-step examples so students can apply concepts confidently in exams and real life.

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