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.

(Querist)
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.

ARUN GUPTA (Querist)
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
ARTICLESHIP 29 October 2026
Article Assistant (CA Inter / CMA Inter) - Thrissur

Varma Raja & Associates

Thrissur

CA Inter

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
28 October 2026
Assistant Director/ Associate Director-Finance & Accounting

Krea University

Chennai

CA

View Details
Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details