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?
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?
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.
Exchange fluctuation for this transaction should be accounted.
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