Rectification/Adjustment of Excess amount charged in Invoice
This query is : Resolved
GULAB SINGH
(Querist)
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
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