TaxTMI 
TaxTMI 
clarification of accounting for ct-1 sales
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....larification of accounting for ct-1 sales<br> Query (Issue) Started By: - manan pandya Dated:- 22-1-2015 Last Reply Date:- 28-1-2015 Central Excise<br>Got 4 Replies<br>Central Excise<br>dear experts, we are manufacturer and also exports the goods, apart from we are selling the goods to the merchant exporters under CT-1 sales now query comes under accounting treatment.. 1) if i sales to our merch....
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....ant exporter against taking CT-1 in this case we (manufacturer) filed ER-1 and shows under Export CT-1 clearance but how to treat this sales under accounting ...this sales will be treated under export sales or domestic sales or deemed export ....? 2) same reverse case merchant exporter procuring the goods against CT-1 from manufacturer and same goods export so this sales will be treated under whi....
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....ch head? pls. clarify this issue ..... regards, Manan PANDYA Cell : 9510018659 Reply By Naveed S: The Reply: The answer to both your above queries is that such sales shall be treated as export sales. Reply By manan pandya: The Reply: sir, export sales for manufacturer as well as merchant exporter both party will show their sales in balance sheet under export sales group? but foreign curr....
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....ency will be received by merchant exporter then ? still i am getting confusion... pls. clarify sir.. regards, Manan Pandya Reply By Pradeep Khatri: The Reply: Dear Manan, For Manufacturer exporter it is sales during the exports and for Merchant exporter it is export sales. Proof of export would be submitted by the Merchant Exporter. Manufacturer exporter would be benefited for not charging ....
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....the C.E. Duties as well as non charging of VAT/CST on the strength of form H. Where as Merchant exporter can get the benefits of export promotions schemes on the submission of NOC from Manufacturer Exporter to Merchant Exporter. For Both the parties it is Deemed Export and Export. Regards, Sameer Malhotra - Consultant YAGAY and SUN - Management, Business and Indirect Tax Consultants Reply By N....
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....aveed S: The Reply: Sir, thanks for the reply. hope the query is resolved<br> Discussion Forum - Knowledge Sharing ....