Section 61 in The Gujarat Value Added Tax Act, 2003
61. Credit and debit notes.
- Subject to the provisions of sections 8 and 60, where a tax invoice has been provided as contemplated in sub-section (1) of section 60, and-(a)the amount shown as tax charged in the tax invoice exceeds the actual tax charged in respect of the sale concerned, the seller shall provide [within such period as may be prescribed, the purchaser with a credit note] [These words were substituted for the words 'the purchaser with a credit not within three months' by Gujarat Act No.6 of 2006, Section 25(1)] of the sales of goods involved in the transaction, containing such particulars as may be prescribed;(b)the actual tax charged in respect of the sale concerned exceeds the tax shown in the tax invoice as charged, the seller shall provide the purchaser with a debit note, containing such particulars as may be prescribed :[Provided that not more than one credit note, or, as a case may be, debit note shall be issued for the amount in excess] [This proviso was substituted by Gujarat Act No.6 of 2006, Section 25(2)]
