Foreign receipt
This query is : Resolved
13 September 2016
QUESTION: I have sold goods in foreign. Please guide me.
EXPORT SALE (IN USD) 34,150.00
SHIPPING BILL RATE Rs. 66.40
REALISED (USD) 34,093.00
REALISATION RATE Rs. 67.14
FOREIGN BANK CHARGES (USD) 57.00
INCOME FROM FOREIGN EXCH. FL Rs.0.74
FOR ABOVE SALE WHICH OPTION IS RIGHT FROM BELOW TWO OPTIONS AT THE TIME OF RECEIPT?
OPTION (I)
PARTY (34150*66.40) CR 22,67,560.00
BANK (34093*67.14) DR 22,89,004.02
BANK CHARGES (57*66.40) DR 3,784.80
INCOME FROM FEF (34093*0.74) CR 25,228.82
TOTAL 22,92,788.82 22,92,788.82
OPTION (II)
PARTY (34150*66.40) CR 22,67,560.00
BANK (34093*67.14) DR 22,89,004.02
BANK CHARGES (57*67.14) DR 3,826.98
INCOME FROM FEF (34150*0.74) CR 25,271.00
TOTAL 22,92,831.00 22,92,831.00
EXPORT SALE (IN USD) 34,150.00
SHIPPING BILL RATE Rs. 66.40
REALISED (USD) 34,093.00
REALISATION RATE Rs. 67.14
FOREIGN BANK CHARGES (USD) 57.00
INCOME FROM FOREIGN EXCH. FL Rs.0.74
FOR ABOVE SALE WHICH OPTION IS RIGHT FROM BELOW TWO OPTIONS AT THE TIME OF RECEIPT?
OPTION (I)
PARTY (34150*66.40) CR 22,67,560.00
BANK (34093*67.14) DR 22,89,004.02
BANK CHARGES (57*66.40) DR 3,784.80
INCOME FROM FEF (34093*0.74) CR 25,228.82
TOTAL 22,92,788.82 22,92,788.82
OPTION (II)
PARTY (34150*66.40) CR 22,67,560.00
BANK (34093*67.14) DR 22,89,004.02
BANK CHARGES (57*67.14) DR 3,826.98
INCOME FROM FEF (34150*0.74) CR 25,271.00
TOTAL 22,92,831.00 22,92,831.00
13 September 2016
Option 2 is right................
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
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- Last year TDS Claim
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- TDS related Query_Liquidated Damages
- LTCG for Assmt year 26-27
- Free lancer income
- Long Term Service award taxability in hands of company
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
