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Export to foreign wholly owned subsidary

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 February 2012 If the Machinery and Materials Exported to Foreign Wholly Owned Subsidiary from promoting company , what is the recording procedure in promoting company

It will be treated as sales ? or Branch Transfer.
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CA Nikhil Jhanwar

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CA Nikhil Jhanwar (Expert)
06 February 2012 As per separate legal entity concept since export has been made to different company ( even group company) it will be treated as sale.

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