hi there!
In case of export which value should I record in books of account and in GST return as sales: FOB or CIF?
3 Replies
CA Dhruva Kalamanji
(Chartered Accountant )
(1996 Points)
Replied 17 October 2019
Both the cases it is transaction value. meaning can ne anything like fob or cif. but needs to be determined by transaction agreement
Pardeep Garg
(CA-Final Student)
(801 Points)
Replied 18 October 2019
E.g.
fob in shipping bill is 30,000
freight is 15,000
CIF is 45,000.
Reportable amount in GST return and in books of accounts.
fob in shipping bill is 30,000
freight is 15,000
CIF is 45,000.
Reportable amount in GST return and in books of accounts.
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