Foreigh consultancy earnings.
This query is : Resolved
Abhishek gupta
(Querist)
09 August 2009
If someone is providing consultancy services to outside india and receiving the fees in dollar.
But my question is that if invoice are issued to the clients also in foreign currency .Then what shall be the treatment of difference between currency fluctuation between the date of issue of invoice and receipt of $ while calculating PGBP?
But my question is that if invoice are issued to the clients also in foreign currency .Then what shall be the treatment of difference between currency fluctuation between the date of issue of invoice and receipt of $ while calculating PGBP?
10 August 2009
As per AS 11 that difference will be credited to or debited to foreign exchange gain/loss a/c
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