hi there!
In case of export which value should I record in books of account and in GST return as sales: FOB or CIF?
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Export sale value in GST return
Replies (3)
Both the cases it is transaction value. meaning can ne anything like fob or cif. but needs to be determined by transaction agreement
The value on Shipping Bill.
E.g.
fob in shipping bill is 30,000
freight is 15,000
CIF is 45,000.
Reportable amount in GST return and in books of accounts.
fob in shipping bill is 30,000
freight is 15,000
CIF is 45,000.
Reportable amount in GST return and in books of accounts.
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