Exchange rate for sales bill to feed entry in tally
This query is : Resolved
12 May 2022
sir, what is the exchange rate should be taken to sale price for export business for accounting ?
1. as per shipping bill
2. as per credit advice
1. as per shipping bill
2. as per credit advice
12 May 2022
Make the accounting as per the shipping bill.
12 May 2022
Yes mam. Thank you. But the exchange rate in the credit advice is used for which purpose mam?
13 May 2022
Yes mam. Thank you. But the exchange rate in the credit advice is used for which purpose mam? Can you please clarify my doubt. Exchange rate in Shipping bill is the sale price and in credit advice is collection then how to account the difference. Please guide me
16 May 2022
Yes mam. Thank you. But the exchange rate in the credit advice is used for which purpose mam? Can you please clarify my doubt. Exchange rate in Shipping bill is the sale price and in credit advice is collection then how to account the difference. Please guide me
16 May 2022
In my opinion the difference between the rate at which sale is booked and the rate at which payment is released from the customer to you shall be recorded as exchange rate profit or poss in P/L.
17 May 2022
Thank you so much mam for your prompt reply
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- Banking Related Issue
- IT returns for fresh job holders
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- NRI INSURANCE ADVISOR
- Taxability of credit in canara bank ET & T section (NRO)
- Rent claimed on building given on permissive possession basis
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
