DETAILS REGARDING EXPORT AUDIT
This query is : Resolved
19 June 2009
SIR I WANT TO KNOW THAT WHAT DETAILS WILL REQUIRE WHILE DURING THE TIME OF AUDIT OF EXPORT FIRM.
WHAT DOCUMENTS WILL REQUIRE TO BE VOUCHED AND HOW THEY BE VOUCHED?
WHAT DOCUMENTS WILL REQUIRE TO BE VOUCHED AND HOW THEY BE VOUCHED?
19 June 2009
Hi,
For Audit of Export Sales following needs to be checked in addition to normal sales procedure:
a) All the Export Invoices must have the CBEC notified exchange rate for the translation
b) Export Duty aspects - whether exempt and if exempt issue of ARE Form
c) Submission of GR Form to RBI
d) Export Sale terms like FOB/CIF etc for properly recognising the sales
e) Other factors such as Insurance, freight etc.
Also you must know some Export Procedures, which you can refer in this Site.
http://www.indiandata.com/trade_policy/export_procedures.html
For Audit of Export Sales following needs to be checked in addition to normal sales procedure:
a) All the Export Invoices must have the CBEC notified exchange rate for the translation
b) Export Duty aspects - whether exempt and if exempt issue of ARE Form
c) Submission of GR Form to RBI
d) Export Sale terms like FOB/CIF etc for properly recognising the sales
e) Other factors such as Insurance, freight etc.
Also you must know some Export Procedures, which you can refer in this Site.
http://www.indiandata.com/trade_policy/export_procedures.html
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