banner_ad

Sale at midnight on 31st march

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
06 December 2012 Dear Expert

How to take sale if booked at midnight on 31st march when a/cs closed & sales &Invoices Auditor are there so how would take that sale as revenue or what?
Profile Image

Abhijit

Profile Image

Abhijit (Expert)
06 December 2012 SALE UPTO MIDNIGHT 12 IS RECORDED UNDER MARCH SALE & AFTER 12 IT IS RECORDED IN THE NEXT YEAR SALE. FOR RECORDING OF REVENUE YOU HAVE TO CHECK OUT FOR AS-9 CONDITIONS.
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
06 December 2012 This is the very common practice. Many countries having calender year as financial year and sale at mid night is very common in hotels, bars, motels etc.... especially on 31st December. Consistency principle is followed in such case in foreign countries.
Profile Image

@VaibhavJ

Profile Image

@VaibhavJ (Expert)
06 December 2012 True, so can we have extension up to a day for bookin of sales?
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
06 December 2012 why a DAY... till the event lasts. But consistency must be maintained on "year on year" basis.
Profile Image

@VaibhavJ

Profile Image

@VaibhavJ (Expert)
06 December 2012 ok.. thanks for information..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details