Want to know more
Enter the details and we'll call you soon

Name :

Company Name :

City :

Mobile No. :

Email id :

  

Thank you for your details



Our Executive will reach you shortly.

Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset SessionCancel Session
 
  • Freight recovered on door delivery-whether part of sele

    by Lalit Ahuja on Saturday, February 03, 2018 at 01:46 PM

    Manufacture of steel supplying materials to parties on door delivery basis and charging freight separately in invoice. Whether freight so charged is a part of sale and to be included in Sale of Goods or to be shown separately as freight recovered and shown as net of freight expenses in the Statement of Profit & Loss of the company prepared as per IndAS?

    Replied byEditorial Board Tuesday, February 06, 2018 at 05:27 PM

    As per Ind AS Schedule III to the Companies Act, 2013, revenue from operations should be disclosed separately as sale of products, sale of services and other operating revenues.

    Assuming that on door delivery of materials to buyers is part of sale, freight so charged should be included in Revenue from operations.

    The freight expense so incurred for delivering of goods shall be shown as Freight expense under “Other Expenses".

 
taxmann.com
Payment
Best view in 1140 x 768