Thank you all for your response and suggestions. Due to change in Indian accounting standards and the IFRS implementation the client's requirement is to hit the COGS at the time when goods reaches to the customer and invoice entry should happen at a later point of time with tentative date of material arrival at the customers point. The excise should hit at the time material dispatched from the factory and sales should hit when material reaches to customer. how this can be achieved?
I have gone through the process of SIT but the problem is how excise entries will get trigger and at which point and hoe the sales tax will hit at the time of material dispatched from the factory.
Can anyone guide me on this. who has already done changes according to IFRS.
Thanks
Ashwini