Please let me know the difference between Invoice value and FOB Value and also kindly suggest me which value should i take in Monthly sales returns for filing purpose.
23 January 2016
n an FOB terms of delivery, the seller delivers the goods on board the vessel at his own cost. The rest of expenses and risk of on carriage to final destination bears by the buyer. In an export shipment, once the goods ready for export, the shipper arranges to move cargo to load port after necessary customs formalities. The goods are loaded on board the vessel at the cost of exporter. This is the simple explanation on FOB terms. Also read Basic tips to exporter while contracting terms of delivery on FOB basis . Who decides shipping carrier on FOB shipments?
23 January 2016
DEFINITION of 'Invoice' A commercial document that itemizes a transaction between a buyer and a seller. An invoice will usually include the quantity of purchase, price of goods and/or services, date, parties involved, unique invoice number, and tax information.
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