How to show debit note in GST return?

Wondering how to show debit note in GSTR-1

? Let me tell you the process here in great detail. A debit note is a document used to record additional tax liability or a reduction in the invoice value of a supply.

Follow these steps for

how to check debit note in GST portal

:

1. If you are the supplier, you should generate a debit note document containing the necessary details:

   • Your business name, address, and GSTIN.

   • Debit note number and date.

   • reason for issuing the debit note.

   • The taxable value and the amount of GST

   • The reference to the original invoice.

2. Update your accounting records to reflect the debit note.

3. Filing GST Return

   :
   • GSTR-1:

     you should report the details of the original supply as well as the debit note details.

   • GSTR-3B:

     When filing GSTR-3B, you need to report the total outward supplies and tax liability.

4. If you are the recipient of the debit note, you should also include:

   • When filing GSTR-2B or GSTR-3B, you should claim input tax credit (ITC). Make sure to have valid supporting documents to claim it.

5. Keep a copy of the debit note, GST returns, and supporting documents for future reference and audits.

This is how to show debit note in GSTR-1

.

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As we all know, GST returns filing system was introduced to make the process of regular tax return filing as simple and smooth as possible. Issuance of debit notes and credit notes is essential to keep the system of invoicing transparent for each party involved. Debit-credit notes hold relevance while reporting in the GST returns. Let me tell you how to show debit note in GST return:

As per the existing GST Return system, Both Debit Note and Credit Note reporting happens in GSTR-1. The supplier is only required to show the details of both Debit Notes and Credit Notes in its GSTR-1.

If you are a registered buyer, then you are required to report debit notes and credit notes in Table ‘9B – Credit/debit notes (Registered). If you are an unregistered buyer, then you are required to report debit notes and credit notes in Table 9B – Credit/Debit Notes (Unregistered).

Following are the details that are required to be mentioned in a Debit Note or Credit Note as per the GST Rules and Regulations:

• Name, GSTIN, and Address of the supplier,

• Name and Nature of the document,

• A consecutive serial number made of numerals, alphabets, or special characters, in any combination that is unique for an F.Y. And the serial number shouldn’t include more than 16 characters.,

• Date of issuance of the document,

• Date and serial number of the corresponding tax invoice or bill of supply for which Debit/Credit Note is getting issued,

• Unique Identity Number or Name, GSTN, and Address, of the buyer who is registered under GST, OR

• Name and Address of the buyer and the address of delivery, along with the State name and code, if he is unregistered under GST

• Value of taxable supply of services or goods, tax rate, and the tax amount debited or credited to the recipient,

• And supplier’s signature.

This is all about the credit note and debit note in GST return.

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I hope now you know how to show debit note in GST return.