Credit Note Generator
Issue a credit note when a customer returns goods or you need to reduce the amount you billed.
How to use the Credit Note Generator
- 1Enter the original invoice number and date.
- 2List the items or amount being credited with GST.
- 3Choose the reason and download.
Credit notes under GST
A registered supplier issues a credit note when the taxable value or tax charged was too high, or goods are returned. It must reference the original invoice and is reported in GSTR-1, reducing your output tax.
How the totals are calculated
Each line's taxable value is quantity × rate − discount. GST is taxable value × rate, rounded to the paisa. For a sale within your state the GST is split equally into CGST and SGST; for a sale to another state it's charged as IGST. The grand total can be rounded to the nearest rupee with the round-off shown separately. These are the same calculations BolHisab uses in its books.
Frequently asked questions
Is there a time limit?
Is there a time limit?
Credit notes must be declared by 30 November after the end of the financial year of the original supply (or the annual return date, if earlier).
Who issues a credit note?
Who issues a credit note?
The seller, to the buyer.
What's a debit note?
What's a debit note?
The opposite — it increases the amount (see the Debit Note Generator).