Purchases date against import

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2014 Good evening
Dear Sir,
i am working as an accounts manager in an organisation, which import machines from China & USA and sale them at india against HIGH SEAS SALES BASIS. Now is questions is what is purchases date for me when I sold machines on High sea sales basis i.e date of HSS or date of arrival at concern ICD or delivery to handover to vendor (For example- I ordered a machines in china 01.05.2014 & ask port of delivery at ICD TUGLAKABAD, DELHI. Machine shipped at 16.05.2014 & will reach same at 06.06.2014. but I sold it 28.05.2014, know this condition what is purchase date of us for make entry in my books of a/c, date of HSS OR DATE OF arrival at port or delivery to vendor.) Please solve my problem.

Thanking you,

Jai Prakash

Rupesh Jain

Rupesh Jain (Expert)
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30 May 2014 your purchase date when your machine dispatch from there, and you have right to tfr the machine to some one, when you take decision regarding machine, your control come to you then you take your purchase date of machine.

port date not consider due to you sale the goods before coming on port.

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