Issue of credit note by the supplier for over priced invoice


This query is : Resolved 

Quick Summary
This discussion addresses how a supplier should issue a credit note when an invoice has been overcharged by a small amount (50p per metre in this case). It also explains the correct accounting entries for the buyer, which involve crediting the purchase and debiting the supplier's account to reflect the correction.

02 May 2023 My supplier over priced gst invoice by 50p per metre. What will he write in the credit note and how will i make entry in my books of accounts?

02 May 2023 Write over priced in the credit note.
Credit the purchase and debit the supplier.

02 May 2023 Over priced by 50p in the gst invoice so issued credit note by the supplier

02 May 2023 No problem credit note can be issued.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
Featured 18 July 2026
Senior Manager- Finance & Accounts

apricus india

Ahmedabad

CA

View Details
Company
31 July 2026
Senior Accountant - Bunia, Democratic Republic of Congo

AD GLOBAL LTD

Mumbai

B.Com

View Details
Company
06 July 2026
Chartered Accountant (Indirect Taxation)

Gowra Ventures Pvt Ltd

Hyderabad

CA

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

G A R U D & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 10 July 2026
Article Assistant

N S Gokhale & Co

Thane

CA Inter

View Details
Company
ARTICLESHIP 08 July 2026
Article internship

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
23 July 2026
Senior Accountant

Felicity Adobe LLP

Bengaluru

CA Inter

View Details
Follow