diff --git a/erpnext/controllers/selling_controller.py b/erpnext/controllers/selling_controller.py
index 5b7d76d0f08..123020b914f 100644
--- a/erpnext/controllers/selling_controller.py
+++ b/erpnext/controllers/selling_controller.py
@@ -310,12 +310,27 @@ class SellingController(StockController):
 				if flt(d.conversion_factor)==0.0:
 					d.conversion_factor = get_conversion_factor(d.item_code, d.uom).get("conversion_factor") or 1.0
 				return_rate = 0
-				if cint(self.is_return) and self.return_against and self.docstatus==1:
-					against_document_no = (d.get("sales_invoice_item")
-						if self.doctype == "Sales Invoice" else d.get("delivery_note_item"))
+				if cint(self.is_return) and self.docstatus==1:
+					if self.return_against:
+						against_document_no = (d.get("sales_invoice_item")
+							if self.doctype == "Sales Invoice" else d.get("delivery_note_item"))
 
-					return_rate = self.get_incoming_rate_for_sales_return(d.item_code,
-						self.return_against, against_document_no)
+						return_rate = self.get_incoming_rate_for_sales_return(d.item_code,
+							self.return_against, against_document_no)
+					else:
+						# For standalone credit note
+						args = frappe._dict({
+							"item_code": d.item_code,
+							"warehouse": d.warehouse,
+							"posting_date": self.posting_date,
+							"posting_time": self.posting_time,
+							"qty": flt(d.qty),
+							"serial_no": d.serial_no,
+							"company": d.company,
+							"allow_zero_valuation": d.allow_zero_valuation
+						})
+
+						return_rate = get_incoming_rate(args)
 
 				# On cancellation or if return entry submission, make stock ledger entry for
 				# target warehouse first, to update serial no values properly