Vendors Credit Note My Debit Note Customer Vendor
![Vendors Credit Note My Debit Note Vendors Credit Note My Debit Note](https://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-1.jpg)
Vendors Credit Note My Debit Note
![Customer – Vendor ? • • Case 1 I am “Akito Kowa Packaging Ltd” Customer – Vendor ? • • Case 1 I am “Akito Kowa Packaging Ltd”](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-2.jpg)
Customer – Vendor ? • • Case 1 I am “Akito Kowa Packaging Ltd” I have Finsys ERP. I make Flexible Packaging in NCR Delhi My vendor is Uflex ( supplier of Flexible raw film) Case 2 I am a Washing Machine parts maker My Vendor sells Plastic Granule ( Raw Material)
![What is a Credit Note ? Sec 2(37) CGST Act What is a Credit Note ? Sec 2(37) CGST Act](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-3.jpg)
What is a Credit Note ? Sec 2(37) CGST Act
![Section 34(1) Credit Note. . PTO Section 34(1) Credit Note. . PTO](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-4.jpg)
Section 34(1) Credit Note. . PTO
![Conditions in Section 34 • 34. (1) Where a tax invoice has been issued Conditions in Section 34 • 34. (1) Where a tax invoice has been issued](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-5.jpg)
Conditions in Section 34 • 34. (1) Where a tax invoice has been issued for supply of any goods or services or both and • the taxable value or tax charged in that tax invoice is found to exceed the taxable value or tax payable in respect of such supply, or • where the goods supplied are returned by the recipient, or • where goods or services or both supplied are found to be deficient, • the registered person, who has supplied such goods or services or both, • may issue to the recipient a credit note • containing such particulars as may be prescribed.
![Example # 1 : Rate excess problem • the taxable value or tax charged Example # 1 : Rate excess problem • the taxable value or tax charged](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-6.jpg)
Example # 1 : Rate excess problem • the taxable value or tax charged in that tax invoice is found to exceed the taxable value or tax payable in respect of such supply, or ( excess charged was Rs 2 per kg on Film/Granules) – He charged Rs 110, 000 – Actual should have been Rs 1, 05, 000 – So, CN for Rs. 5, 000
![Example # 2 • where the goods supplied are returned by the recipient, or Example # 2 • where the goods supplied are returned by the recipient, or](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-7.jpg)
Example # 2 • where the goods supplied are returned by the recipient, or – Akito Kowa has returned Rs 3000 of Raw Material due to defect/QC problem or anything • He charged Rs 20, 000 on the bill • I have to accept that bill in GSTR 2 – Later , I reject and send back the goods worth Rs 3000 • I cannot edit his bill • I cannot send him a debit note ( ? ? ) • So, request him for a CN for Rs 3, 000
![Example # 3 • Goods in Transit loss / Short Supply by vendor • Example # 3 • Goods in Transit loss / Short Supply by vendor •](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-8.jpg)
Example # 3 • Goods in Transit loss / Short Supply by vendor • “…. where goods …. supplied are found to be deficient…”, • Uflex sent 15, 000 kg as per its bill. – But I received only 14, 600 kg. – So, Deficient by 400 kg. – He charged Rs 1, 50, 000 on the bill. – I have to accept that bill in GSTR 2. • But, I need to cover my loss. – I cannot send him a debit note ( ? ? ) – So, request him for a CN for 10 x 400 = Rs 4, 000.
![Example # 4 : Service Provider • ISO 9001 Consultant. – Bill raised 2 Example # 4 : Service Provider • ISO 9001 Consultant. – Bill raised 2](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-9.jpg)
Example # 4 : Service Provider • ISO 9001 Consultant. – Bill raised 2 lakhs. Filed on GSTR 1 – We pass the bill for Rs 175000. • “…. where …. services…. supplied are found to be deficient…”, • He charged Rs 2 lakhs on the bill. In GSTR-1 – I have to accept that bill in GSTR 2 A/ 2. • But, I need to cover my loss. – I cannot send him a debit note ( ? ? ) – So, request him for a CN for 25, 000
![Who will make ? • the registered person, who has supplied such goods or Who will make ? • the registered person, who has supplied such goods or](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-10.jpg)
Who will make ? • the registered person, who has supplied such goods or services or both, • may issue to the recipient a credit note • containing such particulars as may be prescribed.
![How to do in Finsys ? How to do in Finsys ?](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-11.jpg)
How to do in Finsys ?
![Case 1 : Rate Difference 2/kg • Regd person ( Uflex ) will have Case 1 : Rate Difference 2/kg • Regd person ( Uflex ) will have](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-12.jpg)
Case 1 : Rate Difference 2/kg • Regd person ( Uflex ) will have to make the Credit Note • We will in Finsys post this in the 31 series debit note • This debit note is same as in Pre-GST period • It will hit your accounts but not hit – the GST portal – GST-3 B – GST-2
![Why this is done ? • If we make the “ 58” series Debit Why this is done ? • If we make the “ 58” series Debit](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-13.jpg)
Why this is done ? • If we make the “ 58” series Debit Note • It will also load into the GSTN portal • And there will be a double Debit in GSTN Portal – He will give a credit note, and I approve it – If by mistake, I give a 58 series DN, then Modvat ITC will be adjusted twice • Hence, make We will in Finsys post this in the 31 series debit note
![Let us see the GSTR-2 and 1 Let us see the GSTR-2 and 1](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-14.jpg)
Let us see the GSTR-2 and 1
![GSTR-1 GSTR-1](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-15.jpg)
GSTR-1
![DN in case of unregistered DN in case of unregistered](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-16.jpg)
DN in case of unregistered
![Para 9 : His debit notes to his own invoices of prior period Para 9 : His debit notes to his own invoices of prior period](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-17.jpg)
Para 9 : His debit notes to his own invoices of prior period
![And he will give numbering here And he will give numbering here](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-18.jpg)
And he will give numbering here
![Govt Notes to GSTR-1 Govt Notes to GSTR-1](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-19.jpg)
Govt Notes to GSTR-1
![Can I not make a Debit Note ? Can I not make a Debit Note ?](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-20.jpg)
Can I not make a Debit Note ?
![GSTR-2 GSTR-2](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-21.jpg)
GSTR-2
![Para 6 : of GSTR-2 Para 6 : of GSTR-2](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-22.jpg)
Para 6 : of GSTR-2
![Slots are available, for DN/CN but as per Sec 34, only supplier can issue Slots are available, for DN/CN but as per Sec 34, only supplier can issue](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-23.jpg)
Slots are available, for DN/CN but as per Sec 34, only supplier can issue a DN/CN
![Now in Finsys Now in Finsys](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-24.jpg)
Now in Finsys
![Consumables 50 series Purchase of goods /Consumables Consumables 50 series Purchase of goods /Consumables](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-25.jpg)
Consumables 50 series Purchase of goods /Consumables
![Its Debit Note will be 31 series (via Ordinary Quick Voucher button) Its Debit Note will be 31 series (via Ordinary Quick Voucher button)](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-26.jpg)
Its Debit Note will be 31 series (via Ordinary Quick Voucher button)
![Enter the Voucher, link that invoice Enter the Voucher, link that invoice](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-27.jpg)
Enter the Voucher, link that invoice
![Select first invoice Select first invoice](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-28.jpg)
Select first invoice
![This was the purchase voucher This was the purchase voucher](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-29.jpg)
This was the purchase voucher
![This is the Debit note ( 31: non GST ) This is the Debit note ( 31: non GST )](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-30.jpg)
This is the Debit note ( 31: non GST )
![Print of DN-non GSTN Print of DN-non GSTN](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-31.jpg)
Print of DN-non GSTN
![Benefit : Vendor Account Knock off Benefit : Vendor Account Knock off](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-32.jpg)
Benefit : Vendor Account Knock off
![Benefit 2 : It will not go to GSTN portal • Since customer is Benefit 2 : It will not go to GSTN portal • Since customer is](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-33.jpg)
Benefit 2 : It will not go to GSTN portal • Since customer is not allowed to do that
![Please Note Debit Notes. Credit Notes Please Note Debit Notes. Credit Notes](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-34.jpg)
Please Note Debit Notes. Credit Notes
![](http://slidetodoc.com/presentation_image_h/36eca7ecd0783272f61ed946bc742e81/image-35.jpg)
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