CA riya (CA) (266 Points)
23 June 2011Wat will be the date of recognising purchases in case of import in following case?
Company has arranged an agent for imports...The seller sent goods on February 20(for example)..Agent invoiced to company as high sea sale on march 1...Goods reached our port before 31.03...but we have taken delivery on April
When shall purchases and liability (creditors for purchases) be recognised
Thank you
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 24 June 2011
on the date of invoice of agent the purchase is booked,
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 24 June 2011
| Originally posted by : U S Sharma | ||
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on the date of invoice of agent the purchase is booked, |
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yes agreed
CAclubindia
