i am fashion designer in Delhi and i am going to register myself in d vat,and my question is if i am sale my good in London, Singapore& Dubai by the exhibitions.so how to raised those bills and what is way of maintaining books of account.usually we sale's in dollars also please tell me these income how to shows in books and ITR.
29 February 2012
Sale of goods made out side india shall be treated as exports and there shall be no VAT / CST tax payable on the same.. However as to documentation you shall require to hold a export invoice and also a supporting bill of lading.. to justify the exports..
As to billing in $. this is no concern and accepted. The income from sale and purchase shall be determined preparing your final accounts and accordingly you shall file your income tax return.
CAclubindia
