04 August 2010
Dear ALL, My company is exporting Leather. for that we have to file BANK CERTIFICATE FOR EXPORT REALISATION.But the compant not filed any thing to the customs dpt.in the last five year.so we got a shocause notice from the customs dpt.i am ew comer i don't know the customs an d things i prepared/collected all the things Exept FOB & date of realisation of export proceeds i have bank advice from that i collect the net realised amount for FOB calculation FOB=[(Net realisation * con rate at ealisation rate)-insurence-Frieght)is it right No. bank advice is noot available can i calulate FOB from any other file? pls Help
04 August 2010
yes you can found it from bill of entry, but in that case your F. O. B. will be diferent. It is better you may calculate from your accounts. you just try to find out wheather export value is on CIF or FOB , then apply the formulla asalready given to you.
11 August 2010
Dear sir, My companies Cost of goods inculde frieght & insurance i Calculate the F.O.B.for Bank certificate for export realisation as =conv.rate (date of realisation ie valuation rate)*Expoort invoice amount(foriegn exchange)-fireght(bill of lading memmo)-insurence(from shipping bill)is it ok sir?
23 August 2010
Dear SIR, Sir here the company taken 11 Nos Loan from Banks they first calculate all thew interest and booked it as an asset (interest suspense)and after that on payment the entry is booked as like this Suppose the loan is 100000 from HDFC Bank EMI is 3778 Loan tenor is 36 Months Total interest is 36000 the 36000 is transfered to Interest suspense the entry is HDFC A/c Dr 3778 Interest (P&L)1000 To,Interest suspense 1000 TO,Bank 3778 Which is right /Not
Second I have repayment schedule if i can't paid the installment currectly can i booked the the interest as expense ?
I Got clarification one expert that i can book/charged the interest on accrual basis i want confirmation from u.
03 September 2010
Dear Sir, for geting the BRCE from bank i want to enter the insurance amount can i take the insurance amount in Shipping bill for that? Commision is also contain in the shipping bill BRCE also asking for the commission amount also can i take the commision amount from the shipping bill for FOB calculation is it reduce from the realised amount
CAclubindia
