audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 June 2010
while checking import purchase i have seen some invoices on which dates were of earlier previous year whether it is to be considered as prior period purchase or is there any other date is to be considered?
08 June 2010
please refer to the terms of the contract as FOB,CIF etc when the ownership passes and then compare the same with Bill of Entry (presuming the goods have come by ship) of Airway bill to ascertain when the same would have been procured. if there are huge variations between dates as for reasons and then form an opinion
08 June 2010
Normally it will be treated as prior period purchase...
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