Treatment of Import of Goods in transit

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..... Treatment of Import of Goods in transit
Query (Issue) Started By: - ravichandran maraiyan Dated:- 14-9-2015 Last Reply Date:- 12-12-2015 VAT + CST
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VAT / Sales Tax
One of my c .....

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..... lients import materials, say the import takes place during the month of March and my client receive materials during April-May. It is under Ex-works basis. When they get title of ownership? In which m .....

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..... onth sales tax return the transaction will be included? What are accounting entries? Please clarify. Reply By Ganeshan Kalyani: The Reply: Hope your query is resolved. If not, this is the answer. Wh .....

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..... en the material is received at your factory gate and the date when the same is accounted in Goods Receipt Note (GRN) that date will be date when you got the title of ownership. Thus the month in which .....

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..... it is accounted in your books of account the return corresponding month return will be required to include such transaction.
Discussion Forum - Knowledge Sharing .....

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