All Types of Taxation Notes 666

                                  Debit Note and Credit Note A. CREDIT NOTE UNDER SECTION 34(1) An enlisted provider of labor and products or both is obligatorily expected to give a duty receipt. In any case, over the span of exchange or business, after the receipt has been given there could be circumstances might emerge like: - the available worth or duty charged in that expense receipt is found to surpass the available worth or assessment payable in regard of such stock (Where Pronounced Worth more than Genuine Worth)/(Pace of duty charged higher than rate material) or the enrolled individual, who has provided such labor and products or both, may issue to the beneficiary a credit note containing such specifics as might be endorsed. When the credit note has been given, the assessment risk of the provider will decrease. B.  CREDIT NOTE UNDER SECTION 34(2) Any enlisted individual who gives a credit...