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Entry of import bill

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(Querist)
09 July 2012 a bill imported from china of usd 9280 but payment was made from hdfc bank of 20000 in advance so what rate of dollar will be used to enter purchase amount rate of invoice date or rate of fund transfer date
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Vishal Sharma

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Vishal Sharma (Expert)
12 July 2012 Rate of Invoice date will be used to book Purchase Amount. Further difference in rate of fund trf date and invoice date should be transferred to Exchange Fluctuation A/c.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
28 July 2023 "Sorry, I am not a featured member."

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