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CLEARING AND FORWARDING AGENT

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(Querist)
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???????
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Vivek Raju P

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Vivek Raju P (Expert)
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
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Nilesh Jain

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Nilesh Jain (Querist)
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
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Nilesh Jain

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Nilesh Jain (Querist)
27 January 2011 It will be very helpfull if u can provide any case law.
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