A credit memo may be issued by a vendor because the University returned goods that were ordered and received unsatisfactory, due to pricing discrepancies or any other reasons. Credit memo is a ...

Explains the legal situations where suppliers can correct excess GST through credit notes. Highlights that reduction in tax liability is conditional on timelines, ITC reversal, and absence of unjust ...

A negative invoice or credit note is a form letter sent from a business/seller to a product buyer. According to BusinessDictionary.com, a credit note states that the business is crediting a portion of ...

Business accounting can cause headaches for a variety of reasons but, if done right, issuing credits to your customers does not have to be one of the causes. Credit memos are a simple way of adjusting ...

Invoicing is crucial for small business cash flow. Learn how to create an effective professional invoice that increases the likelihood of timely payments.

The article highlights conflicts between Sections 9 and 35 of the CGST Act when post-supply adjustments arise under reverse charge. While imports of goods are partly clarified, services remain legally ...