Chief Kunle Folarin, Chairman, Nigerian Ports Consultative Council, who delivered the keynote address titled: 'Port Costs and Port Charges: Issues in the Port Reform Policy' noted that a typical shipping company
debit note in Nigeria contains nine different charges which includes: shipping line/agencies charge, container cleaning/maintenance, container deposit, MOWCA charge, NIMASA sea protection levy, MOWCA Fee, freight levy, document release, demurrage charges, NIPOST Stamp Tax and Value Added Tax (VAT).
For all the documents under the Tax Invoice, Credit and
Debit Note Rules, 'One solution' is the platform through which all the taxpayers can create all the documents with ease.
Step three: After underwriting, the employer seeking the coverage issues a
debit note for payments and the insurance company issues a certificate once the money is realised.
After taking on the suggested discount price by Amazon, sellers then present the company with a
debit note of the discounted price and Amazon refunds/finances the discounted sum to the seller by cheque.
In addition, it is suggested to introduce widely practiced documents '
debit note' and 'credit note' that
Purakot: But in my case now I have waved my
debit note to all my colleagues and nobody sells BA.
Reporting of complete details of every purchase,
Debit Note & Credit Note is practically not possible when one has to segregate on the basis of rate and other parameters.
* Document Process -- Instead of working on a deduction, the analytics address root cause (
debit note).
A few days later, the supplier receives a
debit note, spelling out why the supermarket has deducted an amount from the original invoice." In one instance cited to Williams, a large well known food manufacturer had 1 million [pounds sterling] deducted from a 7 million [pounds sterling] invoice.
Pursuant to section 232 of the Excise Tax Act, where a supplier makes an adjustment (i.e., to correct a pricing error) and reduces, refunds or credits the tax payable in respect of the supply, the supplier is required to issue a GST credit note containing prescribed information unless the recipient issues a
debit note (also containing the same prescribed information).