Credit and Debit Notes

Rule 31. Where a registered dealer has given a tax invoice in respect of a sale of goods and thereafter the goods or any part thereof are returned to the seller if the sale is cancelled or for any other reason, or the value of the sale is altered, whether due to a discount or otherwise, he shall, subject to the provisions of section 30, give to the buying dealer a credit or debit note containing the following details, namely.-

(1)   the nature of the document issued;

(2)   a consecutive serial number;

(3)   the date of the issue of the document;

(4)   the name, address and registration number of the selling dealer;

(5)   the name and address of the buyer, together with buyer’s registration number, if registered;

(6)   the number and date of the relevant tax invoice;

(7)   the value of the goods and the amount of the tax credited or debited to the buyer; and

(8)   signature of the selling dealer or his agent.