Ind As 115

This discussion clarifies revenue recognition under Ind AS 115 for export sales. The key question is whether revenue should be recognised in the financial year the invoice was issued (March 2020) or when the goods were purchased, shipped, and exported (April 2020). The consensus suggests that for exports, revenue recognition is typically tied to the date of the Bill of Lading, meaning revenue should be recognised in April 2020 if the Bill of Lading falls within that month, regardless of the invoice date.