Credit note: In cases where tax invoice has been issued for a supply and subsequently it is found that the value or tax charged in that invoice is more than what is actually payable/chargeable or where the recipient has returned the goods, the supplier can issue a credit note to the recipient.

Debit note: In cases where tax invoice has been issued for a supply and subsequently it is found that the value or tax charged in that invoice is less than what is actually payable/chargeable, the supplier can issue a debit note to the recipient. Any registered person who issues a debit note in relation to a supply of goods or services or both, shall declare the details of such debit note in the return for the month during which such debit note has been issued and the tax liability shall be adjusted in such manners may be prescribed.

Contents of a revised tax invoice and credit or debit note:

(a) The word “Revised Invoice”, wherever applicable, indicated prominently

(b) Name, address and GSTIN of the supplier

(c) Nature of the document

(d) A consecutive serial number containing alphabets or numerals or special characters like hyphen or dash and slash symbolized as “-” and “/”respectively, and any combination thereof, unique for a financial year

(e) Date of issue of the document

(f) Name, address and GSTIN or UIN, if registered, of the recipient

(g) 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

(h) Serial number and date of the corresponding tax invoice or, as the case may be, bill of supply

(i) 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.

(j) Signature or digital signature of the supplier or his authorized representative.

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