Karan Gupta (CA FINAL STUDENT) (414 Points)
05 August 2012
Export Sales to a party Rs 10,00,000
Commercial Invoice is Preapared on 30th Jan 2012
Goods removed fom the factory on 2nd Feb 2012 and Form A.R.E-1 is prepared on same date
(1) My question Is If company is filling sales tax retun and excise return on which date enty is to recorded in books of accounts
(2) If company show as sales in sales tax return on 30th jan and in excise return on 2nd Feb.Is the company is doing right
NAMASIVAYAM
(FINANCE MANAGER)
(35 Points)
Replied 05 August 2012
Date of removal 2nd Feb is correct for excise and sales tax purpose. For accounting purpose the effective date is the date of filing of shipping bill
CAclubindia
