CREDIT NOTE / DEBIT NOTE FORM PRESCRIBED UNDER GST ACT 2017
The Goods and Services Tax
Act, 2017 came into force in India with effect from 1.7.2017.
The Credit Note details and
Debit Note details were to be furnished in the GST return.
There is no specific form for
Credit Note or Debit so far from the date of introduction of GST Act, 2017 and
hence there taxpayers were unable to furnish the full particulars required in
the GST return.
Hence the Central Government
has prescribed the particulars to be furnished in the Credit Note and Debit
note as shown below:
In the said rules, in rule 53,–
(a) in sub-rule (1), after the words and figures “section 31”, the words and figures “and credit or debit notes referred to in section 34” shall be omitted;
(b) in sub-rule (1) clause (c) shall be omitted;
(c) in sub-rule (1) clause (i) shall be omitted;
(d) after sub-rule (1),
the
following sub-rule shall be inserted, namely:–
“(1A) A credit or debit note referred to in section 34 shall contain the following particulars, namely:–
(a) name, address and
Goods and
Services Tax Identification Number
of the
supplier;
(b) nature of the document;
(c) a consecutive
serial number
not
exceeding
sixteen characters, in
one
or
multiple series, containing alphabets or numerals or special characters-hyphen
or dash and slash symbolised as “-” and “/” respectively, and any combination thereof, unique
for a financial year;
(d) date of issue of
the
document;
(e) name, address and Goods and Services Tax Identification Number or Unique
Identity Number, if registered, of the recipient;
(f) name and address of the recipient and the address of delivery, along with the
name
of State and its code, if
such
recipient is un-registered;
(g) serial number(s) and date(s) of the corresponding tax invoice(s) or, as the case may be, bill(s) of supply;
(h) value of taxable supply of goods or services, rate of tax and the amount of the
tax
credited or, as
the
case may be, debited to the recipient; and
(i) signature or digital signature of
the
supplier or his authorised representative.”.
The above changes comes into force with effect from
1.2.2019.
The relevant notification is given below for ready
reference:
[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section
(i)]
Government of India Ministry of Finance
(Department of Revenue)
[Central Board of Indirect Taxes
and
Customs]
Notification No. 03/2019 – Central Tax
New Delhi,
the 29th January, 2019
G.S.R……(E). - In exercise of the powers
conferred by section 164 of the Central Goods and
Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules
further to amend the Central Goods
and
Services
Tax Rules, 2017, namely:-
1. (1) These rules may be called the Central Goods and Services Tax (Amendment) Rules,
2019.
(2) Save as otherwise provided in these rules, they shall come into force on the first day of
February, 2019.
In the said rules, in rule 53,–
(a) in sub-rule (1), after the words and figures “section 31”, the words and figures
“and credit or debit notes referred to in section 34” shall be omitted; (b) in sub-rule (1) clause (c) shall be omitted;
(c) in sub-rule (1) clause (i) shall be omitted;
(d) after sub-rule (1), the following sub-rule shall be inserted, namely:–
“(1A) A credit or debit note referred to in section 34 shall contain the following particulars, namely:–
(a) name,
address
and
Goods and Services Tax Identification Number
of the
supplier;
(b) nature of the document;
(c) a consecutive serial
number
not
exceeding
sixteen
characters,
in one or
multiple series, containing alphabets or numerals or special characters-hyphen or
dash
and
slash symbolised as “-” and “/” respectively, and any combination thereof, unique for a financial year;
(d) date of issue of the document;
(e) name, address and Goods and Services Tax Identification Number or Unique
Identity Number, if registered, of the recipient;
(f) name and address of the recipient and the address of delivery, along with the name of State and its
code,
if
such recipient is
un-registered;
(g) serial number(s) and date(s) of the corresponding tax invoice(s) or, as the case may be, bill(s) of supply;
(h) value of taxable supply of goods or services, rate of tax and the amount of the tax credited or, as the case may be, debited to the recipient; and
(i) signature or digital signature of the supplier or his authorised representative.”.
[F.No.20/06/16/2018-GST (Pt. II)]
(Gunjan Kumar Verma) Under Secretary to the Government of India
Note:- The principal rules were published in the Gazette of India, Extraordinary, Part
II,
Section 3,
Sub-section (i) vide notification No. 3/2017-Central Tax, dated the 19th June,2017, published vide number G.S.R 610 (E), dated the 19th June, 2017 and last amended vide notification
No. 74/2018 - Central
Tax, dated the
31st December, 2018,
published
vide number G.S.R 1251 (E), dated the 31st December, 2018.