What is Credit Note under GST?

Team Quicko

Credit Note is issued by seller to buyer when the seller owes money to the buyer. It is issued in following cases:

Value of Invoice reduces - If seller has made mistake while issuing invoice to buyer and value of invoice reduces after correction of error
Sales Return - When buyer returns goods to seller or is not satisfied with services provided by seller, a credit note can be issued by the seller to the buyer

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