27 January 2011
A C&F agent pays freight and other charge to shipping comapny nad later recover it from company(on behalf of whom it has paid freight) whether this reimburshment of freight will be added up in the sales/ gross receipt of C&F agent for the purpose of turnover for section 44AB???????
27 January 2011
Sec 44AB talks of gross receipts, and hence the C&F charges you are paying even though in the form of pass thru will be counted as part of gross receipts. In computing the Rs 60 lacs limit
27 January 2011
but what about the freight which the agent is paynig on behlf of company and getting back as reimburshment will it be added in the turnover
CAclubindia
