Exchange rate applicable - customs vs rbi

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This query is : Resolved

Vijay Kumar (Querist)

24 May 2012 Dear Sir,

Kindly clarify me the below query.

Here we are receiveing Shipper & CHA Invoices in that we see some USD and also exchange rate as per Customs Dept. Now my query can we consider this Customs exchange rate for our accounts or should we follow the exchange rate as per RBI as of Invoice date.

Will there be any issues by Income Tax Dept if we follow the Customs rate.

KIndly advise me what is the proper accounting procedure for such invoices on this regard and do needful

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

24 May 2012 In This Case read :

https://ghalla-bhansali.com/Downloads/Exchange%20Rates%20in%20Income%20Tax.pdf

Vijay Kumar

Vijay Kumar (Querist)

24 May 2012 Dear Sir,

I have tried many times this link what you have provided, I'm unable to access it.

Could you kindly send this PDF file to my e-mail ID vbvijayvk@rediffmail.com.

Please do needful Sir, I have many bills in hand to account.

Thanks & regards,

V B Vijay Kumar.

Vijay Kumar

Vijay Kumar (Querist)

Vijay Kumar

Vijay Kumar (Querist)

Vijay Kumar

Vijay Kumar (Querist)

Vijay Kumar

Vijay Kumar (Querist)

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

24 May 2012 link is working check right now.

regards

Vijay Kumar

Vijay Kumar (Querist)

25 May 2012 Dear Sir,

Its not working. Could you please send the PDF file to my e-mail ID: vbvijayvk@rediffmail.com

Thanks & regards,

V B Vijay Kumar.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

25 May 2012 please check your email id i send it.

regards,

Vijay Kumar

Vijay Kumar (Querist)

25 May 2012 Thank you very much Sir. I got it.

Vijay Kumar

Vijay Kumar (Querist)

25 May 2012 Thank you very much Sir. I got it.

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