Credit and Debit Notes in GST Regime – Detailed Analysis

Credit note and debit note cause some hardship to quickly understand – who owes whom? Credit note is issued when the issuer ‘OWES’ money to someone, that is, it is issued by the person who owes money. Debit note is issued when any money is ‘OWED’ to the issuer, that is, it is again issued by the person who is the receiver of money.

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