The Federal Board of Revenue (FBR) has introduced the concept of 'credit and debit notes' in the federal excise regime on the pattern of sales tax to facilitate both the suppliers and the buyers in ...

Debit notes are a form of proof that a business has created a legitimate debit entry in the course of dealing with another business. This might occur when a purchaser returns materials to a supplier ...

The GST Council has given relief to businesses, particularly fast-moving consumer goods companies, by removing the rule that required credit notes to be linked with invoices. The earlier requirement ...