The Government may, by notification, add to or delete or amend or alter any of the items in the Schedules appended to this Act. #
24. Credit Notes and Debit Notes —
(1) Where a tax invoice has been issued and the amount shown as tax charged in the tax invoice exceeds the Tax Payable under this Act in respect of that sale the registered dealer making the sale shall provide the purchaser with a credit note containing the requisite particulars as may be prescribed.
(2) Where the tax invoice has been issued in respect of any sale, and the tax charged in the Tax Invoice in respect of that sale is found to be less than the amount of tax payable under this Act, the registered dealer making the sale, shall provide the 21 purchaser with a Debit Note, containing the requisite particulars, as may be prescribed
(3) In case of goods returned or rejected by the purchaser, a credit note shall be issued by the selling dealer to the purchaser and a debit note will be issued by the purchaser to the selling dealer containing the particulars as may be prescribed.
(4) Notwithstanding anything contained in this section, wherever any credit notes are to be issued for any discounts or sales incentives by any VAT dealer to another VAT dealer after issuing tax invoice, the selling VAT dealer shall pass a credit note without disturbing the tax component on the price in the original tax invoice.
(New sub-section added by Jharkhand VAT Ordinance, 2011 - w.e.f. 01.04.2010)
CHAPTER IV REGISTRATION OF DEALERS, AMENDMENT AND CANCELLATION OF REGISTRATION CERTIFICATES