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Accounting for Duty Drawback

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Practising CA
8954 Points Joined December 2013
My Export invoice is dated 29.03.2021 but shipping bill generated on 02.04.2021. In which year is the duty drawback booked as revenue and why???
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On 04 May 2021 at 00:49 Report
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Chartered Accountant
24588 Points Joined November 2019
On 29.3.21, Duty Drawback should be treated as contingent assets as it will be received in due date and on 02.04.21 such duty drawback should be shown as revenue as it has been actually received on that date
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On 04 May 2021 at 05:55
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Practising CA
8954 Points Joined December 2013
Drawback will come after 2 months of shipping bill.
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On 04 May 2021 at 10:01
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Chartered Accountant
24588 Points Joined November 2019
I think the above process is correct
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On 04 May 2021 at 10:09

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