Export sales turnover

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ARCHANA (Querist)
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23 May 2018 Sir,

Export sales turnover means including freight or with out freight because Export invoice prepares freight charges also includes

Thanking you

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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23 May 2018 No specific guidance has been provided by AS-9, however, amounts collected on
behalf of 3rd parties are not revenue.

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ARCHANA

ARCHANA (Querist)
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23 May 2018 Thank u sir for your reply

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CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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24 May 2018 Export Turnover : As per Explanation 2 (iv) to Section 10A, Export turnover does not include freight, telecommunication charges or insurance.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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24 May 2018 Yes sir, similar definition can be seen,among others, in explanation(c) to section
80HHF of the Income tax Act,1961 as well.

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ARCHANA

ARCHANA (Querist)
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24 May 2018 Sir,

Thank u for you reply, if the sellers pay freight charges as per CFR mentioned in Invoice and freight charges showing in invoice, what is effect, if it is not included in sales, what kind of expenditure we treat in profit & Loss A/c. And also GST