Exchange rate date for Purchase of Machinery
This query is : Resolved
17 September 2010
Machinery is purchased from Japan Important dates are as below
P O date -31/12/09
Invoice date by japanees supplier -12/2/10
Bill of entry date - 09/3/10
Date put to use - 22/3/10
Which date should be taken into consideration for valuation of Machinery because the date of actual payment is against LC maturity on 20/12/10 on which date payment will be made to the supplier at the then prevailing rate.
P O date -31/12/09
Invoice date by japanees supplier -12/2/10
Bill of entry date - 09/3/10
Date put to use - 22/3/10
Which date should be taken into consideration for valuation of Machinery because the date of actual payment is against LC maturity on 20/12/10 on which date payment will be made to the supplier at the then prevailing rate.
17 September 2010
Exchange rate will be rate of date of LC Maturity i.e 20/12/2010.
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