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CS Executive · Tax Laws and Practice · Procedural Compliance under GST

Since 1 February 2019, how does Section 34 of the CGST Act, 2017 treat credit and debit notes against tax invoices?

Section 34 now allows one or more credit or debit notes to be issued for one or more tax invoices relating to supplies made in a financial year. The 2018 amendment, effective 1 February 2019, removed the earlier one-note, one-invoice wording.

  1. AOne or more credit or debit notes may be issued in respect of one or more tax invoices for supplies made in a financial yearCorrect
  2. BOnly a single note may be issued per invoice
  3. CNotes can be issued only against a single invoice
  4. DNotes are not allowed once the return for the month of the invoice is filed

Explanation

The 2018 amendment, effective 1-2-2019, changed 'a tax invoice' to 'one or more tax invoices' and 'a credit note/debit note' to 'one or more' notes for supplies made in a financial year. So a single-note or single-invoice restriction is wrong, and nothing bars notes after the invoice-month return is filed.

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