Sales value in case of sales

Dear All,

 

It will be great help if anybody could explain :

1. At what Value, the Export Sales are to be Recorded ? Whether it is CIF Value or  FOB Value ?

2. Kindly Quote some citation or standard in support of your answer

3. Is it somewhere prohibited to book our sales on CIF Value for accounting purpose?

 

--

 

     Thanks and Regards,

 

 

 

Garg Garg & Associates
Raghav Garg |  Partner | Chartered Accountants

 

+

Kothi No. 35, Sector 7, Urban Estate,

Kurukshetra, Haryana 136118

(

Board: +91 1744-222484 | Mobile: +91 981 222 0035  

Email: ca.raghavgarg @ gmail.com

 

 

Thank you for considering the environmental impact of printing emails

Replies (1)

Sir you must be charging one value from the buyer either CIF or FOB..You should record ur sales as FOB or CIF based on ur contract terms.if it is for CIF , then record it as CIF and vice versa

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