Export sales turnover
This query is : Open
23 May 2018
Sir,
Export sales turnover means including freight or with out freight because Export invoice prepares freight charges also includes
Thanking you
Export sales turnover means including freight or with out freight because Export invoice prepares freight charges also includes
Thanking you
23 May 2018
No specific guidance has been provided by AS-9, however, amounts collected on
behalf of 3rd parties are not revenue.
behalf of 3rd parties are not revenue.
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CA PARAS BAFNA
(Expert)
24 May 2018
Export Turnover : As per Explanation 2 (iv) to Section 10A, Export turnover does not include freight, telecommunication charges or insurance.
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24 May 2018
Yes sir, similar definition can be seen,among others, in explanation(c) to section
80HHF of the Income tax Act,1961 as well.
80HHF of the Income tax Act,1961 as well.
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24 May 2018
Sir,
Thank u for you reply, if the sellers pay freight charges as per CFR mentioned in Invoice and freight charges showing in invoice, what is effect, if it is not included in sales, what kind of expenditure we treat in profit & Loss A/c. And also GST
Thank u for you reply, if the sellers pay freight charges as per CFR mentioned in Invoice and freight charges showing in invoice, what is effect, if it is not included in sales, what kind of expenditure we treat in profit & Loss A/c. And also GST
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