Get 20% discount & Revise your CA subjects with online video classes – Coupon code: RSLT20


Please Wait ..

to your account


Remember Me

Forgot your password?

Sign-up now

Join and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.

Discussion > Accounts > A/c entries >

Accounting for import purchases

    Post New Topic
Pages : 1

Related Files

CA final cleared and CS final

[ Scorecard : 102]
Posted On 06 August 2008 at 13:10 Report Abuse

At what forex rate the import purchase should be recorded:
1.Rate which prevails on the date of invoice.
2.Rate which prevails on the date of Bill of entry.
3.Rate which prevails on the date of receipt of goods.
4.Or any other rate?

Online classes for CA CS CMA

Share on

Member (Account Deleted)

[ Scorecard : 13290]
Posted On 06 August 2008 at 13:23

For Import Purchase

You should consider the rate applied in Bill of Entry. At the time of payment to the supplier please transfer the diference between Bank Rate and Bill of Entry rate in 'Exchange Rate Fluctuation A/c' .

If there is any advance payment made to supplier then you should consider exchange rate on which the  Bank debited to your account. in this case no 'Exchange Rate Fluctuation' accounted


There are 1 Replies to this message

Related Threads

Post your reply for Accounting for import purchases

Your are not logged in . Please login to post replies

Click here to login

Not a member yet ?? Click here to signup



  • Use thank button to convey your appreciation.
  • Maintain professionalism while posting and replying to topics.
  • Try to add value with your each post.

Forum Home | Forum Portal | Member Control Center | Who is Where | Popular Threads | Today's Topic | Recent Posts | Today's Posts | Post New Topic | Thread With Files | Top Threads This Month | Forum Stats | Unreplied Threads

back to the top