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 GST Council has eased compliance for businesses, particularly FMCG companies, by removing the requirement to link credit notes to specific invoices. This change addresses a long-standing pain ...