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GST Credit Note / Debit Note

Documents issued to adjust a previously issued GST invoice — a credit note to reduce the taxable value or tax, a debit note to increase it.

Related terms

  • Goods Receipt Note (GRN)

    A document recording that goods ordered were physically received, used to match a purchase order to the invoice that follows it.

  • Gratuity

    A statutory lump-sum benefit payable to an employee on retirement, resignation after five years' service, or death, computed under the Payment of Gratuity Act and usually recognised using an actuarial valuation.

  • GSTIN

    The 15-character Goods and Services Tax Identification Number assigned to every GST-registered entity in India.

  • GSTR-1

    The monthly or quarterly GST return on which a registered taxpayer reports its outward supplies (sales).

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231 terms in total, or go deeper with working procedures and worked examples in the resource library.

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