Exchange rate related to export sales
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 December 2014
If a company made export sales to customer from germany, It is to be recorded in RBI spot rate or rate as per CBEC?? Please clarify
Amol S Joglekar
(Expert)
16 December 2014
It will depend upon what type of sale agreement is entered into by your company. If it is INR carry trade, then there arises no question of exchange rate.
If it is a Deutsche Mark trade, you can use MIBOR....Mumbai interbank exchange rate
If it is a Deutsche Mark trade, you can use MIBOR....Mumbai interbank exchange rate
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16 December 2014
for custom cal its rate by cbec else its by rbi for accouting
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