What are the differences between export sales and deemed export sales, explain with all related configuration steps?
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Answer / saplight
I dont know the configuration Part but i can tell you about Deemed Export.
Deemed Export(DE) is possible only for the buyers who have a Deemed Export Licence. In this way the seller gets an exemption from paying on Basic Excise Duty.
The documents must be accompanied with an ARE3 doc.
The cusomer has to send back the signed copy of the ARE3 doc to the seller within the rewarehousing period which in India 1s 90 days.
Rewarehousing is defined as the time between the removal of goods from the plant of the seller and the receipt of the countersigned doc from the buyer.
Any failure on this account makes the seller pay the excise duty.
Exports are accompanied by ARE1 document.
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Answer / nag
Exports means selling the goods to customers who are located out side the country
In exports process we've 3 types
1.bound
2.Lou
3.no bound
while creating bound and lou we've to select the bond master.
If you select the bond master system will not generate the accounting document.
In domestic process while creating excise invoice system will generate the accounting document
Accounting entry is
cenvat suspence a/c dr
to
rg23 bed
rg23 ecs
rg23 secs.
in No bound while creating excise invoice system will generate the accounting document
then we have to make the exciese duties to excise department
. we can claim it back after 6 months
In exports process system will generate the ARE3 document
Deemed exports means selling the goods to customers who are located in india, and who will do 100% exports
in this process system will generate the ARE1 document.
Is This Answer Correct ? | 1 Yes | 1 No |
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