We have passed shipping bill and ready to clear export consignment on 30th March,2018. But Bill of lading of the same consignment is generated in month of April-18.
In above case can we book our export sales in current year i.e. 2017-18 or next financial year i.e. 2018-19.
Timing of Export Sales Recognition Under GST: Invoice Date Key Under Section 12(2) CGST Act 2017 A discussion on a forum revolves around the timing of recognizing export sales under the Goods and Services Tax (GST) framework. The query concerns whether export sales should be recorded in the financial year 2017-18 or 2018-19, given that the shipping bill was passed in March 2018, but the bill of lading was generated in April 2018. One respondent cites Section 12(2) of the CGST Act, 2017, indicating that the time of supply is determined by the invoice date. Another suggests that if the invoice was issued on March 30, 2018, the sale should be recorded in the 2017-18 fiscal year. (AI Summary)
Goods and Services Tax - GST
TaxTMI 
TaxTMI 
TaxTMI 
