1) Suppose a Indian company (Trading Company only Commission Income from the Foreign Customers on account of Sale of there machine in India) Incurred Expenses on behalf of there Foreign Customers who has come for marketing the product in india and The Indian Company is acting as agent of the Foreign Company in india ( Expenses Like Air Tickets,Hotel Charges Car Hire Charges etc) Expenses bills are raised on the Indian Company What accounting entry should be passed in the books of Account of Indian Company.
2)Suppose the above mentioned Indian Company raise a Debit Note the Same Expenses Incurred above what accounting entries should be passed in the books of Indian Company
3) In Case of the above transaction is there Tax Implication applicable (FBT,IT and Service Tax)
CAclubindia
