Earning s on FOB basis
This query is : Open
04 December 2010
Dear Experts,
i need to provide figures of earnings on fob basis for f.y. 09-10.
to arrived this value i ve taken total exports bill realised during the period 09-10 & i ve deducted foreign freight & insurance from the total exports bill realised during the yr 09-10.
is this correct method?
if not pls let me know what is the right method or formula for the same.
Thanks in advance
Sushil.
i need to provide figures of earnings on fob basis for f.y. 09-10.
to arrived this value i ve taken total exports bill realised during the period 09-10 & i ve deducted foreign freight & insurance from the total exports bill realised during the yr 09-10.
is this correct method?
if not pls let me know what is the right method or formula for the same.
Thanks in advance
Sushil.
04 December 2010
Yes , This is the correct method.
04 December 2010
YES, You are right.
Free on board (FOB). This pricing term indicates that the cost of the goods, including all transportation and insurance costs from the manufacturer to the port of departure, as well as the costs of loading the vessel are readfiled in the quoted price.
This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that point. The FOB term requires the seller to clear the goods for export.
"FOB Price does not include Shipping freight and Insurance charges"
Free on board (FOB). This pricing term indicates that the cost of the goods, including all transportation and insurance costs from the manufacturer to the port of departure, as well as the costs of loading the vessel are readfiled in the quoted price.
This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that point. The FOB term requires the seller to clear the goods for export.
"FOB Price does not include Shipping freight and Insurance charges"
04 December 2010
thanks experts,
mr. sushil you are right way.
FOB =COST OF GOODS SOLD IN INR (MINUS)FREIGHT AND (INSURANCE)
THANKS AND REGARDS,
mr. sushil you are right way.
FOB =COST OF GOODS SOLD IN INR (MINUS)FREIGHT AND (INSURANCE)
THANKS AND REGARDS,
05 December 2010
thanks to all,
but still one doubt is there, which export sales bill to consider for calculation, all those raised in the f.y. 09-10 or all those which are actually realized in the f.y. 09-10 irrespective of their bill date.
waiting for reply..
but still one doubt is there, which export sales bill to consider for calculation, all those raised in the f.y. 09-10 or all those which are actually realized in the f.y. 09-10 irrespective of their bill date.
waiting for reply..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Refund of AY 22-23
- Inventory of finished goods
- TDR receipts for agreement holder
- Sale of property furniture sale
- Disallowance of Section 43B(h) to sez units
- Filing of Form 10BB instead of Filing Form 10B
- Applicability of Ind As to associate of associate
- Intimation wrongly states taxpayer has offerred u/s. 44ad & states probable resolutiton to do audit
- Refund AY 2012-13 and 2013-14
- DIRECT TAX CODE 2025
- MODEL FILLED AUDIT REPORT FOR TRUSTS IN FORM 10B
- 115TD on cancellation of 12A 80G Registration
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
