Accounting treatment of free sample export sale
This query is : Resolved
21 April 2009
Dear sir/Madam,
Presently i m engaged in audit of export house and i want to know that the com sends free of cost sample and charging excise duty on it.How will be treated in accounts.
If it shows sales then in case of written of the balance attract any law to written off.
Please tell me.
S.K.Sah
Presently i m engaged in audit of export house and i want to know that the com sends free of cost sample and charging excise duty on it.How will be treated in accounts.
If it shows sales then in case of written of the balance attract any law to written off.
Please tell me.
S.K.Sah
21 April 2009
Free of Cost samples should not be booked as Sales. You can account the Excise Duty payment as Sample Expenses in books
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