Import Purchase
This query is : Resolved
21 January 2011
If importer directly sold the goods from ICD to his customers without bringing the goods to his own godown, then which date is relevant for purchase entry and which day's exchange rate is relevant for this accounting entry.
22 January 2011
Purchase entry date is when ownership is transferred.
Exchange rate - date of transaction i.e. transfer of ownership.
Exchange rate - date of transaction i.e. transfer of ownership.
24 January 2011
Thanks sir for ur reply. Which date to be considered as dt. of transfer of ownership. viz payment of Custom duty date or any other date ? kindly rply.
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