What is Export Benefit like DEPB

 Dear Friends

What do u mean by Export benfits like DEPB as per AS-9

"Revenue Recognition"

It is written as per ICAI notification.

Please reply.

Replies (1)

DEPB is simply a drawback of custom duty(import duty) based upon your exports..AS 9 deals with the timing of revenue recognition and as per AS-9 revenue should be recognised if following conditions are satisfied

1) Amount can be measured with certainity.

2) Attached conditions must have been complied with i;e in this case goods eligible for DEPB must have been exported..

3) There is no uncertainity of it's(DEPB) collection.

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