Foreign exchange gain/loss
This query is : Resolved
07 April 2011
if i import goods by making advance payment then whether i should account for foreign exchange gain/loss or not?
07 April 2011
dear author
you have to calculate exchange gain/loss at the time of bill booked(goods received) and the same gain/loss transfered to P&L a/c.
if goods not received till end of b/s date, you have to revaluate advance payment as on that date as per exchange rate of that date and the same gain/loss transfer to p/l a/c.
you have to calculate exchange gain/loss at the time of bill booked(goods received) and the same gain/loss transfered to P&L a/c.
if goods not received till end of b/s date, you have to revaluate advance payment as on that date as per exchange rate of that date and the same gain/loss transfer to p/l a/c.
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
- Supply through E-commerce Operators
- STCG....................................................
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Sales return eway bill
- Relief u/s Section 89
- REGARDING GST LIABILITY/....
- Specified Profession
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- STCG FOR GOLD ETFs
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
