Rectification/Adjustment of Excess amount charged in Invoice
This query is : Resolved
13 November 2009
Dear Sirs,
This is a matter of a Manufacturing Company's Export Sales as per following:
1. An Export/Commercial Invoice made and exported on 07.11.2009. Two items A & B were exported @Rs.1000/- & 2000/- respectively. But the rate of B was 1000/- only, hence an amount of Rs.1000/- charged in excess by mistake.
2. The foreign buyer is a regular buyer and further same material is to be sent soon.
3. Is there a provision in Customs and FEMA and can the rate/amount be adjusted in the next invoice. If so what is the procedure for the same to avoid any procedural problem for the Export for both the transactions.
Please guide.
Thanks & Regards
This is a matter of a Manufacturing Company's Export Sales as per following:
1. An Export/Commercial Invoice made and exported on 07.11.2009. Two items A & B were exported @Rs.1000/- & 2000/- respectively. But the rate of B was 1000/- only, hence an amount of Rs.1000/- charged in excess by mistake.
2. The foreign buyer is a regular buyer and further same material is to be sent soon.
3. Is there a provision in Customs and FEMA and can the rate/amount be adjusted in the next invoice. If so what is the procedure for the same to avoid any procedural problem for the Export for both the transactions.
Please guide.
Thanks & Regards
14 November 2009
No, you have to send a credit note in respect of rate difference
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- Free lancer income
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Last year TDS Claim
- Long Term Service award taxability in hands of company
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
