Debit Note and Credit Note in Accounting | An in-depth overview with GST Rules & Entries

Debit notes and credit notes are accounting documents used by businesses for different purposes, like Sales and Purchase returns, discounts after sales, and corrections in the Invoice. A supplier of goods or services will issue the Debit Note and Credit Note in accordance with GST Rules. Credit Notes are generated for both sales returns and post-sale discounts. When an invoice needs to be corrected, a debit note is issued to increase the sales value.
Topics Covered:-
1. What is a credit note
2. What is the meaning of a Debit Note
3. What is a debit note and credit note in GST
4. Debit note and credit note format
5. Credit note entry in tally prime
6. Debit note entry in tally prime
7. When to issue a credit note
8. When to issue a debit note
9. Debit and credit note rules in GST
10. All about debit and credit note
11. Who is responsible for the issuance of a debit or credit note
12. Difference between debit and credit note
Learn Journal Entries for Free: www.onlinecca....
Tally Prime Full Course: • Tally Prime full cours...
Download Accountants Club App: play.google.co...
apps.apple.com...

[@athletefitness1]

Sabse Best Example of Debit and Credit Note in You tube Great Sir Ji 👌👌👌👌🙏🙏🙏🙏

[@sureshkannanampally1135]

All info with clear examples & Impact - thank you sir ji

[@nuradad69]

Excellent teaching sir i like your teaching. When i listen your teaching i remember AAJTAK NEWS BLACK AND WHITE NEWS READER SUDHIR CHOWDRY YOUR TEACHING AND HIS NEWS READING STYLE SAME. HE IS ALSO LIKE YOU SIR WHEN STARTS NEWS READING CONTINUOUS NON STOP TALKS, LIKE YOUR TEACHING. YOUR STYLE AND WAY OF TEACHING AND EXPLANATION IS VERY NICE.

[@devrajyadav4724]

You are such a great teacher I understood this concept in just one video

[@AccountantsClub]

Glad to hear that!

[@avijitdey9229]

Different from all.... 100% knowledgeable ❤❤

[@AccountantsClub]

So nice of you

[@YOGESHSHELKE-h3x]

Thank you so much Sir for making video on this Topic, Today solved my all confusion on this
Topic.

[@nirajthakor9748]

You're soo handsome and cool 😶🙂😫

[@pravinboga2390]

One of the best session of related accounts.

[@tariqkhan-iy3ud]

wow sir, extremely love from peshawar pakistan, zabardst tarika hai apka, plz accounts k related esi tara vedio banaty rahy r paid courses se bacha k raky, apse buhut kuch seekne ko milaa, plz make vedio on adjusting entries and also how to recorded in tally software in details sir,
Allah apko hamesha khush raky,

[@EGREECO]

Aapke jo samjhane ka tarika hai na sir.....gajabbbb ka hai....I have no word for u

[@Ashokkumar-sl8nr]

Thank you Sir for making video on this Topic, Today solved my all confusion on this
Topic.

[@AccountantsClub]

Glad to hear that

[@SumanKumar-fn2lh]

Wow Sir, it's superb.....
Today I got the proper clarity regarding Debit and Credit note after watching this video.....
The way you point out all the things it's really appreciable .....
Thank you so much Sir.

[@AccountantsClub]

Great 👍

[@AgouMamaVlog]

​@@AccountantsClub sir any certificate course ?

[@kundlikpatil3727]

Very useful information for GST return and accounting in tally software,(all gstr confusions is cleared). Thanqu Sir, Thanqu. 🙏

[@AccountantsClub]

You are most welcome

[@financesearch]

Thanks sir , Best ever session on youtube

[@leninjoy5985]

Hai sir Mein bhi Ek college teacher hum. Ap ki Class ithna Clear and explanation ithna acha he ki I have no words to say. It is simply Very Very Good
Thank You sir ❤👏👏👏

[@AccountantsClub]

It's my pleasure

[@manojsahu3557]

बहुत ही सुन्दर तरीके से समझाए है सर

[@gyanmush-up3004]

Bahot badiya sir thankyou so much god bless you always with you

[@papangur9117]

Very very excellent 👍👌 with example explanation

[@manoharamrutkar223]

very good explanation sir

[@Akashsingh003]

Very very informational video on RUclips

[@upenderchoudhary6512]

Bahut achey se explan karte hey dir

[@animalslife9200]

You are a great teacher tq

[@praveenjoshi928]

Best Teacher😇

[@ManojKumar-cc5du]

very thanks sir...
for giving such clear knowledge about credit and debit note

[@rohitnayak6645]

Superb explained sir.
🫡 Salute.

[@harshprolife]

Cover every aspect, so much helpful 👍👍

[@AccountantsClub]

Glad you think so!

[@souravkumar-py6ku]

GREAT VIDEO VERY INFORMATIVE

[@accountingskill5537]

Very nice explanation Sir

[@w2wboutique]

Service business h then discount or sale dono me inventry reduced nhi hogi sir ? Confusion clear kar dijiye sir samajne me easy ho jayega.

[@mvishnupandey25]

Thank you very much Sir ji.....

[@somilgupta5123]

thanku sir aapne clear kr diya itna detail me btaya aapne

[@mrdarling4853]

Thank you sir itne achhe se samjhane ke liye 🙏👍👌

[@AccountantsClub]

wlecome

[@marotipawar2342]

Very nice teacher...... Refund ke liye bhi ek video banao sir 🙏

[@BMTrades-ui1mu]

shaandar explanation sir wonderful 👌👌👌👌

[@anantkr_trader-investor]

complete explanation 100%

[@pratikdudhe1024]

Superb session 👏🏻

[@waqasmaqbool3356]

thanks good lecture

[@sambhavyadavofficial]

Thank you, sir. It's easy to understand because of your teaching style.

[@AccountantsClub]

Glad to hear that

[@ExpertTallyPrime]

Please make video for Latest rule relating to to Credit note for B2C large and Credit Note for B2C small and its impact in GSTR 1

[@Kgblog17]

Nice video❤

[@w2wboutique]

Sir bike rent ke business me customer security payment karta h uski entry kaise hogi

[@Sumeetlaldas]

Very good explained

[@pctradingest]

Thank you, sir. 👍 best

[@petpoojafoodandlifestylech7045]

Nicely explained 👌 thankyou sir

[@AccountantsClub]

Always welcome

[@govindjeechoudhary5262]

Bahut hi effective 🎉😂❤

[@bhanuverma4738]

Very nice explanation 👏🏻👏🏻👏🏻

[@srigopalmalani3692]

Perfect explanation sir 🙏👍

[@AccountantsClub]

Keep watching

[@Sriramallrounder777]

Thank u sir very helpfull your video

[@vk-kj2mb]

best video sir

[@BalkishanSarda]

Nicely explained

[@ShakilAhmed-xi5rq]

wonderful.

[@bhuraramdewasi8691]

Good video for Accoutant

[@nirupammishra7434]

Informative this chapter...

[@AccountantsClub]

Most welcome 😊

[@gemkart]

Thank you so much sir ❤️❤️❤️❤️

[@finance_expert_965]

Best video sir ❤

[@bhuvaneshkumar431]

Very Superb Presentation.

[@AccountantsClub]

Thanks a lot

[@vdeshmukh8888]

Very Nice sir

[@priyankavarma094]

Thank u very much sir
But ak query h debit ya credit note ke case me Input gst lenge ya output gst plz sir make one video this topic

[@tejaswinikamble2189]

Thank you thank you thank you sirrr😊

[@aartirathi2825]

Very nicely designed ❤❤ ty sir

[@AccountantsClub]

Most welcome 😊

[@vipinmalaviya873]

Pls share a video on set effective date in doing GST Reco in full detail asap please

[@eagleshadowfx]

Thank you sir so much❤

[@basantornithologist2030]

Most Excellent

[@yogeshbhardwaj1792]

Sir hum sales k againest m credit note issue kartey h tho output gst ka use hoga ya input gst ka please reply sir

[@sumanbardhan4089]

No you have to credit output gst ledger

[@rahulpatil-mx4br]

Sir aap video bhout badiya banate ho continevs video gst

[@AccountantsClub]

Thanks

[@SRPPumps]

NICE VIDEO SIR 👍

[@asif_chouhanproduction415]

Keep doing good

[@RamKumar-mp3lt]

Thanks you so much sir

[@CheeduruHareeshBabu]

Sir, pls explain the accounting process for " we received 80 Qty of goods instead of 90 qty which is mentioned in the invoice". The vendor has no stocks now. by mistakenly they mentioned 90 qty and sent invoice.

[@AmitKumar-ox8it]

Thanks sir 🙏🏻

[@adarshmaurya8189]

Always good sir

[@AccountantsClub]

So nice of you

[@swaraproperty]

Thank you

[@souvickbose2888]

Ap sales ledger me igst 1200 dekhay he , debit note me 600 ,samojme Nehi Aya sir , GST debit note and credit note thira details se bataiye

[@nageshkharatmol2822]

Thank you very much Sir Ji

[@AccountantsClub]

Most welcome

[@shivshankarsatapathy5519]

Thanks

[@pratapratnawat8539]

Very nice 👍👍👍👍

[@panchiroy8505]

Kay condition main gst credit note pe input and output hota hai

[@malik-hz6vi]

Sir bina debit note liye, hum credit note issue kar sakte hai

[@ashwinisarode3727]

Sir Pls reply - humne sale kiya tha Ek party ko defective material hone ke Karn unhone debit note diya aur humne credit note issue kiya. But us party ne debit note e invoice banake gst me dala, humne wo itc claim nahi kiya kyuki humne already credit note issue kiya tha
Ab wo party after 2 month credit note file kiya gst me to Hamara input kam ho Gaya ?

[@gokulshinde6425]

Sir I have purchased machinery on cash payment and any reason I have returned this machinery.
Sir my question is which note I have issues with machinery because I have purchase new machinery same company but different amount and this amount last bill more than

[@AjayKumar-dm1id]

Sir bookkeeping ki full video banaye company mein jaise hoti h

[@shalinipathak9694]

Thankyou Sir...

[@manojgupta3632]

Sir rate difference ya discount ho to hamara purchase account se kam hoga .

[@akashgupta7261]

SIR, agar kisi case me purchase debit not ki entry as a sale debit not me ho jaye to kya kiya jana chahiye?

[@babusuthar1191]

good

[@ambikaprasadnayak642]

If purchases are on p.o. based

[@bhupendrakalme4897]

Thank you sir 🎉

[@AccountantsClub]

Most welcome

[@balramrohra4622]

Thanks a lot sir

[@AccountantsClub]

Most welcome

[@_tanveer_786]

Sir plz make account and taxation related video regularly

[@LALANSAH-z8l]

❤ Thank you sir

[@AccountantsClub]

Welcome

[@sachinsaini481]

Thank 👍 sir

[@AccountantsClub]

So nice of you

[@Bhuayan]

Namaste sir

[@beautifullifebyroy9929]

Wel done boss

[@AccountantsClub]

Thanks

[@pankajkumarkamat8165]

New fy 24-25 me old fy 23-24 ka credit note kaise banaye

[@raushanashraf8327]

Sir filter range pe video banae plz🙏

[@AccountantsClub]

Already uploaded ruclips.net/video/HopmHxNJEkU/видео.html

[@rengarajan4635]

Sir,Namaskar.Your video is very useful.Thanks for uploading.One doubt .We are dealing with magazine publications engaging in printing monthly copies .Can we generate Debit note for Postal charges to send the missing magazines to our clients thro' registered post..Client already paid to us Postal charges in advance but they did not pay magazine price since magazines are only missing by them.If the debit note to be generated how much GST % to be charged alongwith postal charges. please clarify my doubt and help.Thanks and regards.K.Rengarajan🙏🙏🙏🙏

[@Akashsingh003]

According to gst act mixed and composite supply concept the supply of magazines along with postal charges are composite supply and the supply of these two things cannot we seperated becoz if you sale magazine, you also have to deliver it by postal, you cannot sale postal delivery without selling magazine.
Conclusion: In case of composite supply the tax rate charged on main component is also charged on anciliary component. So your main component is magazine then you have to charge the same rate in postal that you charged on magazine sale

[@badapaisabysharemarket]

Sir my supplier is asking for invoice for Credit note ( i have returned material) will i loose gst two times? First when i make invoice and 2nd when supplier will issue credit note?

[@badapaisabysharemarket]

Please help

[@Akashsingh003]

Sir I have a question
For example if due to rate mismatch we charge 5% instead of 10 % on a sales transcation then we have to issue a debit note to increase the amount receivable from party, my question here is that why we issue debit note we can also generate/issue a new invoice of 5% rate difference instead of issuing a debit note. Anyone reading my question please answer that

[@AccountantsClub]

Once an invoice is issued, it cannot be altered or cancelled. We can cancel the invoice only before dispatch the material or service

[@Akashsingh003]

@@AccountantsClub Sir, Here in my question I questioned to issue a new invoice, not to alter or cancel the previously issued invoice.

[@mapa5497]

@@Akashsingh003 new invoice me konsi services/goods dega? Ya phir receipt voucher/refund voucher jaisa..

[@Sozsays987]

Sales ki replacement me sales return to karo aap

[@gangstarsn.a.7926]

Discount offered after sale entry. Discount Allowed a/c. Dr.....
To Customer a/c .

[@raushanashraf8327]

Sir tally prime me e-way bill kaise banti hai??

[@AccountantsClub]

ruclips.net/video/Gx5RR-4RXWw/видео.html

[@raushanashraf8327]

Sir ye e-invoice hai e-way bill kaise banti hai