Query about : export sales booking.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 October 2012
Sir,
Please guide me about following export sale.
1)Exportable goods out from factory on
31st March.
2)Date of Air way bill is 31.03.2012
3)but date of shipping bill is 02.04.2012.
Pl.advice that the booking of Export sale will be for Fy2011-12 OR Fy2012-13.
With Regards
Sir,
Please guide me about following export sale.
1)Exportable goods out from factory on
31st March.
2)Date of Air way bill is 31.03.2012
3)but date of shipping bill is 02.04.2012.
Pl.advice that the booking of Export sale will be for Fy2011-12 OR Fy2012-13.
With Regards
05 October 2012
Revenue recognition does not depend on what date shipping bills get generated. AS 9 focus on transfer of risk and rewards.
I thinks when you cleared your goods from factory, you are sure to transfer property in goods, hence can be accounted in FY 2011-12.
Even excise duty liability arises on removal from factory gate.
I thinks when you cleared your goods from factory, you are sure to transfer property in goods, hence can be accounted in FY 2011-12.
Even excise duty liability arises on removal from factory gate.
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
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
