{"id":7755,"date":"2025-07-14T11:03:31","date_gmt":"2025-07-14T11:03:31","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?post_type=glossary&#038;p=7755"},"modified":"2025-07-14T11:03:34","modified_gmt":"2025-07-14T11:03:34","slug":"gst-debit-credit-revised-invoice","status":"publish","type":"glossary","link":"https:\/\/lemonn.co.in\/blog\/glossary\/gst-debit-credit-revised-invoice\/","title":{"rendered":"GST Debit, Credit &amp; Revised Invoice"},"content":{"rendered":"<h2 id=\"what-are-they-under-gst\" class=\"wp-block-heading\">What Are They Under <a class=\"glossaryLink\"  href=\"https:\/\/lemonn.co.in\/blog\/glossary\/gst\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'  tabindex='0' role='link'>GST<\/a>?<\/h2>\n\n\n\n<h3 id=\"1-credit-note\" class=\"wp-block-heading\">1. <strong>Credit Note<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Issued by the <strong>seller<\/strong> when goods\/services are returned, overcharged, or <a class=\"glossaryLink\"  href=\"https:\/\/lemonn.co.in\/blog\/glossary\/tax\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'  tabindex='0' role='link'>tax<\/a>ed more than required.<\/li>\n\n\n\n<li>Reduces buyer&#x2019;s obligation and the seller&#x2019;s GST liability.<\/li>\n\n\n\n<li>Triggers reverse accounting entries: buyer&#x2019;s GST credit and seller&#x2019;s output tax drop.<\/li>\n<\/ul>\n\n\n\n<h3 id=\"2-debit-note\" class=\"wp-block-heading\">2. <strong>Debit Note<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Issued by the <strong>supplier<\/strong> when an invoice undercharges or additional charges\/items are added.<\/li>\n\n\n\n<li>Increases buyer&#x2019;s payment and the seller&#x2019;s tax liability.<\/li>\n\n\n\n<li>Buyer gets additional tax credit, seller reports more output tax&#x202F;.<\/li>\n<\/ul>\n\n\n\n<h2 id=\"key-differences\" class=\"wp-block-heading\">Key Differences<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th>Feature<\/th><th>Credit Note<\/th><th>Debit Note<\/th><\/tr><\/thead><tbody><tr><td>Issued by<\/td><td>Seller<\/td><td>Seller<\/td><\/tr><tr><td>Purpose<\/td><td>Lower invoice value or tax<\/td><td>Raise invoice value or correct errors<\/td><\/tr><tr><td>Effect<\/td><td>Decreases tax liability<\/td><td>Increases tax liability<\/td><\/tr><tr><td>Usage example<\/td><td>Goods returned; overcharge refund<\/td><td>Undercharged; extra goods delivered<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 id=\"&#x1F4DD;-formats-content-requirements\" class=\"wp-block-heading\">&#128221; Formats &amp; Content Requirements<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Required fields include:\n<ul class=\"wp-block-list\">\n<li>&#x201C;Credit Note&#x201D; or &#x201C;Debit Note&#x201D; label<\/li>\n\n\n\n<li>Serial number, date, supplier &amp; recipient <a class=\"glossaryLink\"  href=\"https:\/\/lemonn.co.in\/blog\/glossary\/gstin\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'  tabindex='0' role='link'>GSTIN<\/a><\/li>\n\n\n\n<li>Details of original invoice (number, date)<\/li>\n\n\n\n<li>Revised taxable value, tax rates, and adjustment amount<\/li>\n\n\n\n<li>Signature or digital signature by supplier<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 id=\"timing-reporting\" class=\"wp-block-heading\">Timing &amp; Reporting<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No strict issuance deadline, but must be <strong>reported in the GST return<\/strong> of the month issued, or by <strong>September or filing of Annual Return<\/strong>, whichever is earlier.<\/li>\n<\/ul>\n\n\n\n<h3 id=\"3-revised-invoice\" class=\"wp-block-heading\">3. <strong>Revised Invoice<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Used when the original invoice was issued <strong>before GST registration<\/strong> (during provisional registration period).<\/li>\n\n\n\n<li>Must be reissued within <strong>30 days of receiving GST certificate<\/strong>.<\/li>\n\n\n\n<li>Updates include adding GSTIN, HSN\/SAC codes, correct billing details.<\/li>\n<\/ul>\n\n\n\n<h2 id=\"when-to-use-each\" class=\"wp-block-heading\">When to Use Each<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Credit Note<\/strong>: For returns, discounts given later, or overcharge adjustments.<\/li>\n\n\n\n<li><strong>Debit Note<\/strong>: For undercharges, more items sold, or additional costs.<\/li>\n\n\n\n<li><strong>Revised Invoice<\/strong>: Solely for correcting invoices issued during pre-registration stage.<\/li>\n<\/ul>\n\n\n\n<h2 id=\"why-they-matter\" class=\"wp-block-heading\">Why They Matter<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ensures <strong>correct GST compliance<\/strong> and <strong>accurate input credit<\/strong> for buyers.<\/li>\n\n\n\n<li>Maintains transparency in <strong>B2B invoice matching<\/strong> via <a class=\"glossaryLink\"  href=\"https:\/\/lemonn.co.in\/blog\/glossary\/gstn\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'  tabindex='0' role='link'>GSTN<\/a> portal.<\/li>\n\n\n\n<li>Helps avoid <strong>penalties and mismatches<\/strong> in tax returns.<\/li>\n<\/ul>\n\n\n\n<h2 id=\"summary\" class=\"wp-block-heading\">Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Credit Note<\/strong> &#x2192; lowers tax\/invoice amount<\/li>\n\n\n\n<li><strong>Debit Note<\/strong> &#x2192; increases tax\/invoice amount<\/li>\n\n\n\n<li><strong>Revised Invoice<\/strong> &#x2192; updates pre-registration invoices post cert.<\/li>\n\n\n\n<li>All require proper format, reporting deadlines, and adjustment in GSTR returns.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>What Are They Under GST? 1. Credit Note 2. Debit Note Key Differences Feature Credit Note Debit Note Issued by Seller Seller Purpose Lower invoice value or tax Raise invoice value or correct errors Effect Decreases tax liability Increases tax liability Usage example Goods returned; overcharge refund Undercharged; extra goods delivered &#128221; Formats &amp; Content [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":0,"menu_order":0,"template":"","meta":{"footnotes":""},"class_list":["post-7755","glossary","type-glossary","status-publish","hentry"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/glossary\/7755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/glossary"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/glossary"}],"author":[{"embeddable":true,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/users\/9"}],"version-history":[{"count":1,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/glossary\/7755\/revisions"}],"predecessor-version":[{"id":7756,"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/glossary\/7755\/revisions\/7756"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=7755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}