29 June 2012
a transcation between a two indian companies and one foriegn company. foriegn company wants to buy some products from indian company (let indian company is X)foriegn company raised a purchases invoice on X but no goods are avalible right now with X company den X company asks some other company(let it be Y)to send goods directly to foriegn company i will pay u.assume foriegn company pays RS.100 and X company is getting Rs.100 from foriegn company and X company is paying 80 to Y company.In X books how Rs.20 will be treated?
29 June 2012
It looks to be his trading profit and thus he will show purhcase at 80 and sale at 100.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
30 June 2012
x company will not get any goods den how can dey treat it as purchases and how they book as a sales?Y company directly sends goods to foreign company.
CAclubindia
