TaxTMI 
TaxTMI 
A company is exporting material ,the sales order value is say 100. Company is sending material partially, and by mistake total invoice value against that order increased then the sales order value. The party will not agree to pay more...so revision of order is not possible..and the company has L/C against this order. How to correct this problem?
Cancellation of invoice
30 Mar 2020 
5 Replies 
2585 Views Asked by
Invoice correction: use credit note or amend letter of credit to align export invoicing with order and export rules.
When an export invoice exceeds the sales order, corrective options are cancelling and reissuing the invoice or issuing a credit note, amending the Letter of Credit with the buyer's agreement if shipment documents are already issued, and reversing any export incentives as required, with corresponding adjustments in GST reporting. (AI Summary)
When an export invoice exceeds the sales order, corrective options are cancelling and reissuing the invoice or issuing a credit note, amending the Letter of Credit with the buyer's agreement if shipment documents are already issued, and reversing any export incentives as required, with corresponding adjustments in GST reporting. (AI Summary)