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Depb accounting....very important...very urgent...experts gu

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Rajesh (Querist)
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16 January 2012 Dear Experts,
The company in which i am put for the internal audit does export sales too.
They are eligible to get the export incentives as per the DGFT guidelines.

Suppose if they make export sales 100000
They are eligible for DEPB for 8000

They make an application to get that DEPB certificate amounting 8000.

Then they sell it to the outsiders for 7000. Sometimes it may be even less than 7000 say 6000.

1)Please tell me is there any instituite guidelines as per AS-9 (revenue recognition) or any other pronouncement on how to account this eligible DEPB of 8000. But the actual receipt is 7000 or 6000.

Thanking you,
With regards,
Rajesh.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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16 January 2012 After read the below mentioned link if you have any query , ask…

https://220.227.161.86/11109p635-637.pdf

https://www.caclubindia.com/experts/depb-a-c-treatment-301165.asp

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