turnover
Dhana Sai (234 Points)
13 July 2018if I was absent ,he will do the business (i.e collecting freight and deliver the goods. )
my doubt is whether the freight collected by my agent will be a part of my turnover or not.
Dhana Sai (234 Points)
13 July 2018
Rakesh Bandal
(Self Employed and Agriculture)
(1349 Points)
Replied 13 July 2018
If freight is collected by issuing your bill AND you have paid commission on that freight amount to commission agent then that bill amount will be inculded in your turnover
If bill and amount collected directly by agent in that case amount will be incuded in turnover of agent
Rakesh Bandal
(Self Employed and Agriculture)
(1349 Points)
Replied 13 July 2018
Answer is based on logic and not any specific rule
but Accounting Standared Revenue Recognition can be refered
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)