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Querist : Anonymous

Querist : Anonymous (Querist)

05 December 2014 How vouch the export sale made?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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05 December 2014 check the documents submitted to customs authoirty, bill of exports, cha bill and check the treatment of foriegn currency receievd.

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Ganeshbabu K

Ganeshbabu K (Expert)
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05 December 2014 1)Check quantity in invoice with packing list

2)Verify whether price charged on invoice is as per approved price list.

3)Verify the cases where discount is given and verify whether it is properly authorized by competent person

4)Check whether revenue recognised properly as per AS9

5)prepare workings for FOB value of exports eliminating fright and insurance where ever includes to disclose in foreign exchange earnings note.

6)identify export sales made to related parties for disclosure of related party transactions as per AS18

7)prepare product wise details of export sales for disclosure as per revised schedule VI

8)Depending on your nature of business we may extend audit procedures to the extent it is required

Concentrate more on pricing and revenue recognition...
.

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