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RATE DIFFERENCE - JOBWORK SALES

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Fareed

Accountant

90 Points Posted on 14 December 2021

Dear Experts,

ABC Pvt Ltd Company raised Interstate Job work sale invoice to XYZ Pvt Ltd Company. After 6 months of supplier ABC Pvt Ltd find out that rate was billed lower than actual rate. Over the period, it’s almost more than 30 bills booked in lower rate.

For Example : Actual rate Rs.100, but billed rate was Rs.90 only.

ABC Pvt Ltd Company process shall process the debit note for rate difference..?

Please share your valuable suggestions.

Thanks & Regards

FAREED

Dear Experts, ABC Pvt Ltd Company doing overseas business. Export invoice made without Payment of Tax. What are the documents required for Refund of ITC on Export of Goods & Services without Payment of Tax. Please share your valuable opinion. Thanks & Regards FAREED

Read more at: https://www.caclubindia.com/forum/refund-export-lut-sales-without-payment-of-tax-583786.asp

Replies (3)

Quick Summary

A company has discovered they've been billing interstate job work sales at a lower rate than actual for several months, impacting over 30 invoices. They are seeking advice on the correct procedure to address this rate difference. The consensus suggests issuing a debit note to rectify the billing error.