Import purchase
Querist : Anonymous
1. date on Purchase Invoice or
2. date on which we received material at factory
Querist : Anonymous
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so if it is FOB import purchases
1)your liability starts once goods shippend and bill of ladding prepared accordingly you need to book purchases at the date of bill of ladding
2)in case of CIF import purchase your liability starts once it reaches to indian port and bill of entry made,,so it can be booked at the date of bill of entry
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As you got clarity on what date to recognize purchases you can book at the rate on that date which is shows in rbi website
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