Commericial invoice or bill of entry
This query is : Resolved
sumit kamde
(Querist)
04 May 2019
On what date is the import bill accounted in books? Is it to be accounted on the date of commercial invoice/ date of bill of lading/ date of bill of entry and accordingly which exchange rate to be recorded? in LC Terms
CA R SEETHARAMAN
(Expert)
04 May 2019
In case of FOB contract account it on bill of lading date on which ownership passed on. In case of LC terms account it based on actual LC debit.
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