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Import Variation
Experts i have an important query. Please help. In FY2019-20 import purchase value wrongly taken as per shipping bill which is more than the actual cost for which payment is made due to which there is variation of around 8 lakhs in taxable value in FY 2019-20. Turnover was around 4 crores in that year. Now how to I rectify this? please guide.
Replies (4)
Quick Summary
No Audit query in F.Y 2019-20 while verification of Import purchase .
No. Please guide me.
Write off the difference as foreign exchange gain loss in fy 20-21. Practical Answer.
Thank you for your suggestion
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