Query against Sales export on insurance & freight
This query is : Resolved
09 October 2023
Dear Sir,
I am exporter and when i making the export invoice then i mention the freight value & insurance value on the invoice but i am not charging the gst on freight & insurance and i am aleadry freight & insurance book the expenses under indirect expenses account in tally but now my question is i am finilising my pvt ltd company accounts then my CA tell me if i am mention the freight & insurance in invoice then i have to book the export invoice first expenses (like: freight + insurance ) under the fixed assets account after that rest of the all bills freight +insurance under the indirect expenses account.
Sir please reply on this matter with example basis if my ca is true then pls share me the any circular or any rule.
Thanks & Regards
I am exporter and when i making the export invoice then i mention the freight value & insurance value on the invoice but i am not charging the gst on freight & insurance and i am aleadry freight & insurance book the expenses under indirect expenses account in tally but now my question is i am finilising my pvt ltd company accounts then my CA tell me if i am mention the freight & insurance in invoice then i have to book the export invoice first expenses (like: freight + insurance ) under the fixed assets account after that rest of the all bills freight +insurance under the indirect expenses account.
Sir please reply on this matter with example basis if my ca is true then pls share me the any circular or any rule.
Thanks & Regards
10 October 2023
Freight and insurance will not be booked under fixed assets.
Discuss with auditor and modify the query rightly.
Discuss with auditor and modify the query rightly.
10 October 2023
can u tell me my ca tell me when we sell the export goods in first time and charging the freight and insurance without tax implication then we have to mandatory first time expenses like insurance will be booked under fixed assets after that we selling second further exports sales and charging the freight and insurance then we have to booked the expenses under indirect expenses please resolve this matter can i produce any law or circular infront of my ca.
10 October 2023
Your query is not clear.
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