definitions of credit note

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..... ge or defects in goods supplied and returned to sender, or for overcharge in price. The term is also used for a note or document that confirms the availability of funds for future purchases (as when goods are paid for but later returned to the supplier) . A sales credit note is defined as Note sent from a seller to a buyer to cancel (partly or in total) a charge that has already been invoiced. The .....

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..... g for them . According to Black s Law Dictionary, Fifth Edition, - Credit Memorandum is a document used by a seller to inform a buyer that the buyer s account receivable is being credited (reduced) because of errors, returns, or allowances . Under the Goods and Services Tax Law It has been stated that after the invoice has been issued there could be situations where the quality of the goods or ser .....

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..... er s account is being credited because of errors, returns or allowances. On discharging his obligation under the warranty appended to a sale of an automobile, a dealer receives a credit note. This would be a receipt in the account of the dealer and a liability in the returns of the manufacturer which may ultimately enable the manufacturer to decrease his tax liability. Consequently, the dealer of .....

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