My client is exporter and he does not have any branch in foreign.He has foreign Debtors at the end of reporting period. Client have domestic sales also and it takes substantial part than Export sales. Does AS-11 The effects of Foreign Currency transactions apply? i.e does we have need to convert such foreign debtors at closing rate?..
As-11
Swami Ayyappa Nuli (TAX ADVISOR & CONSULTANT AT G.S.T SUVIDHA CENTER) (1372 Points)
16 June 2014
CAclubindia
