Turnover presentation in financial statements.
This query is : Resolved
21 February 2009
There is concept of deemed export under excise. Accordingly we have received an order from Maharashtra state electricity board for erection of sub-station but the project is funded by world bank, so it is covered undered deemed export. How shall the turnover from this order appear in the financial statements, wether it will be shown as domestic turnover or export turnover.
21 February 2009
Since the currency involved is INR and goods are not moving out of India, it is to be shown under Domestic sales
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