Recording of sales & duty drawback in case of export sales.
This query is : Resolved
Arun Kumar
(Querist)
17 June 2014
If sales invoice is before year end i.e. before 31st march and shipping bill is after 31st march then when sales & duty drawback should be recorded in books of accounts.
CA UMESH DULAL
(Expert)
18 June 2014
Sells have to be recognized only when seller transferred the significant risk and rewards to the buyer and there is no uncertainty exists regarding the amount of consideration.
so plz clarify what types of sale it is ? sale on approval or sale on FOB etc?
so plz clarify what types of sale it is ? sale on approval or sale on FOB etc?
Rupesh Jain
(Expert)
18 June 2014
sale when then all risk and owner ship tfr to to seller . if it tfr when you send goods (as per your term of sale) then t treat your sale. otherwise not your sale
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