Exchange rate for fob
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 April 2013
In notes to accounts and directors' report, it is mandatory to disclose FOB value of exports. Which rate should be considered for calculating FOB? Rate on the date of shipping bill or rate on the date of bill of lading?
CA Sourabh Agarwal
(Expert)
13 May 2013
No specific guidance exist on this. Better to go for Shipping Bill.
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