Accounting of Import Consignment
This query is : Resolved
29 April 2010
We made a advance payment of EURO 1152 with exchange rate of Rs.62.72
The Bill of entry information as below:
1. IGM No-**** Dated 05.04.2010
2. Bill of entryn no-**** Dated 08.04.2010
3. Exchange rate on BOE- Rs.61.40
It is not cleared that which rate is applicable for booking of Purchase.
The Bill of entry information as below:
1. IGM No-**** Dated 05.04.2010
2. Bill of entryn no-**** Dated 08.04.2010
3. Exchange rate on BOE- Rs.61.40
It is not cleared that which rate is applicable for booking of Purchase.
CA Ashok Kumar Sahu
(Expert)
29 April 2010
AS PER MY KNOWLEDGE FOR PURCHASE ENTRY WE TAKE THE RATE OF EXCHANGE WHICH CHARGED BY BANK AT THE TIME OF REALISED BILL OF LANDING.
01 May 2010
It is not yet cleared that the exchange rate taken on the followings:
1. Date of Payment
2. Date of Bill of Entry
3. Date of IGM
4. Rate mentioned on Bill of Entry
Is there any notification of act for it ?
The above query for Import.
1. Date of Payment
2. Date of Bill of Entry
3. Date of IGM
4. Rate mentioned on Bill of Entry
Is there any notification of act for it ?
The above query for Import.
CA Ashok Kumar Sahu
(Expert)
01 May 2010
I DON'T HAVE ANY NOTIFICATION FOR THAT, BUT ONE OF MY CLIENT TAKE RATE OF EXCHANGE FOR IMPORT CONSIGNMENT IS DATE OF PAYMENT
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