I wanted to know the procedure and documentation for credit note to an export (Customer) on quality issue. if the amount is substantial. the material will be not return b
ack to india, it will scraped at customer end.
to which ledger we should give effect in credit note? Sales or discount?
2 Replies
CA Altamush Zafar
(GST Consultant)
(15983 Points)
Replied 19 February 2021
You cannot just issue a credit note in this regard. You have to take permission from rbi or your bank since you are the amount is substantial
Manjula
(Accountant )
(119 Points)
Replied 19 February 2021
Thank you for your reply.
okay sir but how to pass the entry.?sales or discount.
okay sir but how to pass the entry.?sales or discount.
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