diff --git a/erpnext/accounts/doctype/pricing_rule/pricing_rule.py b/erpnext/accounts/doctype/pricing_rule/pricing_rule.py
index 72ad0d096bc0..73cb24838118 100644
--- a/erpnext/accounts/doctype/pricing_rule/pricing_rule.py
+++ b/erpnext/accounts/doctype/pricing_rule/pricing_rule.py
@@ -451,6 +451,16 @@ def get_pricing_rule_for_item(args, doc=None, for_validate=False):
 					get_pricing_rule_items(pricing_rule, other_items=fetch_other_item) or []
 				)
 
+			if pricing_rule.coupon_code_based == 1:
+				if not args.coupon_code:
+					return item_details
+
+				coupon_code = frappe.db.get_value(
+					doctype="Coupon Code", filters={"pricing_rule": pricing_rule.name}, fieldname="name"
+				)
+				if args.coupon_code != coupon_code:
+					continue
+
 			if pricing_rule.get("suggestion"):
 				continue
 
@@ -476,9 +486,6 @@ def get_pricing_rule_for_item(args, doc=None, for_validate=False):
 						pricing_rule.apply_rule_on_other_items
 					)
 
-			if pricing_rule.coupon_code_based == 1 and args.coupon_code is None:
-				return item_details
-
 			if not pricing_rule.validate_applied_rule:
 				if pricing_rule.price_or_product_discount == "Price":
 					apply_price_discount_rule(pricing_rule, item_details, args)