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Revenue Recognition on Ex-works

Hariharan Iyer (DGM-F&A) (24 Points)

04 August 2021  

The Delivery terms "Ex-works. delivery within 6 months from PO date"

Since transportation is to be arranged by buyer, whether the Revenue und Ind AS can be recognized as soon as the product is ready for dispatch. What if the buyer delays taking delivery beyond 6 months?

Whether Bill & hold Revenue recognition is appropriate if the buyer says he is ready to accept the seller's invoice but can't take delivery immediately due to some reasons? The buyer is accepting invoice so that his budget doesn't expire. Is this a valid reason for Bill & hold?

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