Check sibling questions
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



Why it is Credit Note for Seller

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Why it is Debit Note for Buyer?

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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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Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.