Foreign Exchange loss or Gain
This query is : Resolved
Sujit Mandal
(Querist)
01 June 2008
We are importing Raw Material based on prevailing Rate agreed with supplier,after importing the material while we make payment to supplier, the exchange loss or gain arises.Can we adjust the loss or gain on foreign exchange through purchase A/c which arises on that transaction.
Please advise me the best practice regarding the issue.
Please advise me the best practice regarding the issue.
CA. Yayati Tyagi
(Expert)
02 June 2008
triplicate
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