CONDIGNMENT SALES
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 December 2010
SIR
CAN WE INCLUDE THE GOODS SOLD IN CONSIGNMENT SASALE IN THE TURNOVER OF A FIRM WHILE ANALYZING THE BALANCE SHEET AS A LENDER. IF YES? HOW? IF NOT. WHY?
PLS EXPLAIN THE MATTER ON LEGAL ISSUE
CAN WE INCLUDE THE GOODS SOLD IN CONSIGNMENT SASALE IN THE TURNOVER OF A FIRM WHILE ANALYZING THE BALANCE SHEET AS A LENDER. IF YES? HOW? IF NOT. WHY?
PLS EXPLAIN THE MATTER ON LEGAL ISSUE
24 December 2010
from the legal angel i think instead of taking into account consignment sale in the books of consignor ,better take the actual sale made by the consignment agent (for making it simple can take a confirmation of the material received by him ,sold by him & closing stock),although i believe practically it will be too difficult to get the data as generally now days consignment agent is being made only in books to avoid double taxation of vat/sales tax ,so in actual company may be selling directly at a price ,they send the material thru consignment sale/transfer to enable to get the benefit of form F of CST.Check the payment schedule of the consignee to the consignor.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is any professional CA is here please reply
- TDS on Consultancy- Non DTAA
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- Rental income gst and it purpose
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Management System (IMS)
- EPF FULL & FINAL RULES IN 2026
- Experts need help
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
