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Revenue recognition-sales

This query is : Resolved 
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(Querist)
24 March 2021 Sir,
My company exports goods on FOB basis and CIF basis. At the time of year ending, goods will leave factory compound before 31st of March but the bill of lading date will be after 31st March.
My query is can I show the goods as "sales in transit" and form part of sales.71EA
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
24 March 2021 The ownership of goods passed on to buyer only the goods were put on board the ship as per sale of goods Act.
So it can't be included in the sales.
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