Capital commitment

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om prakash sharma (Querist)
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05 May 2008 As we have entered into a contract with canadian company for purchase of some spares, however, it remain unexcuted as on 31 march 2008.

So, we are showing it in the capital commitment amount in our note of account, my question is that at which exchange rate we should value the capital commitment - whether

exchange rate declared by excise and custom department on monthly basis.

or whether rate declared by R.B.I. on day to day basis.

Or in short, what AS-11 say in this regard

please refer some documentaty evidences in this regard also, if possible.

thanks

CA. Yayati Tyagi

CA. Yayati Tyagi (Expert)
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27 May 2008 at the average of TT buying and selling rates as of balance sheet date

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