If an LC arrangement has been entered into with a bank for import payments. when should the purchases (import) be booked in the accounts. i.e. on the date of payment release by the bank or on the date when goods are loaded in India.
Contract terms are FOR Indian Border
DATE OF BILL OF ENTRY WHEN DUTY DEPOSITED AFTER APPRAISMENT AND PRINTING.
thanks sir and can you tell the date in case we sell the goods as High Sea Sales.
same.
thanks ,
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
