Export sales

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2012 Hi,
A customer pays advance in INR and the balance in foreign currency. Invoice raised in USD and the goods are sent outside India.

1. IS it export Sale?

2. Exchange rate fluctuation whether to book?

Nachiket Vasantgadkar

Nachiket Vasantgadkar (Expert)
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25 July 2012 Yes, this is export sale. If you want to avail any benefit (like EPCG etc) then it is available to the extent foreign currency is received. Export sale can be in INR or other currency.
Exchange fluctuation for this transaction should be accounted.