Foreign remittance
This query is : Resolved
19 August 2011
i have client, who remits sum to their parties abroad.
the invoice inr value and whatever payment tht has been made differs to rate difference on 2 different dates.
in this case, what shud i do. shud i book the extra payment under other ledger (foreign exchng diff)
or shud i book it as entire purchase and dont get into bifurcation?? pls advice.
i m confused
the invoice inr value and whatever payment tht has been made differs to rate difference on 2 different dates.
in this case, what shud i do. shud i book the extra payment under other ledger (foreign exchng diff)
or shud i book it as entire purchase and dont get into bifurcation?? pls advice.
i m confused
19 August 2011
eg: invoice raised by xyz in u.k on 14.12.10 and payment made on 20.12.10
how is the difference to be treated as?
how is the difference to be treated as?
19 August 2011
Need to Follow accounting Standard- 11
Hence, foreign exchange fluctuation transferred to separate head i.e. foreign currency fluctuation
Hence, foreign exchange fluctuation transferred to separate head i.e. foreign currency fluctuation
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
- Post Office RD Interest
- CG Tax On residential property
- Applicable TDS for Purchase of Flat from NRI
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Form 10BD Filling
- Annual return of gst limit
- Gift of mutual fund units to daughter
- ESIC- Employee Registration
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
