Query :
If Invoice has been made for exporting goods in March 2020.However Purchases for the same Export order has been made in April and Shipping Bill also made in April and Actual Exports also made in April.
How to recognize revenue ?
Whether to record revenue in the FY 2019-20 or FY 2020-21
Please Suggest
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Ind As 115
Replies (5)
Recognised immediately in the same month, April.
Revenue needs to be accounted in March 2020 itself.
Sorry, if closing date is March, so be it. Thanks @ Asha
Oh thank you so much
If its export then it's subject to date of bill of landing if BL in April then record in april
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