Exchange Rate for import purchases

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 January 2011 IN case of import purchases, custom duty is paid on the rate given in bill of entry, whether this rate can be used for recording purchases in books or RBI rate on the date of bill of entry should be taken.....?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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15 January 2011 as per provision laid down in export import policy exchange rate issued by the central board of excise and custom in every month last week for next month .

mentioned exchange rate on bill of entry and shipping bill has valid for the purpose of beyond export turnover etc.

regards,

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