Purchase - imports
This query is : Resolved
08 September 2012
Sir,
If we have to booked the Import Invoice in the account system which exchange rate should consider for invoice as in the bunch of documents there are diff documents showing different rates i.e. one is on customs documents and 2nd is on Debit advice of seller and third is on Bill of Entry
so it create confusion for me
pls guide
If we have to booked the Import Invoice in the account system which exchange rate should consider for invoice as in the bunch of documents there are diff documents showing different rates i.e. one is on customs documents and 2nd is on Debit advice of seller and third is on Bill of Entry
so it create confusion for me
pls guide
08 September 2012
For import purchase there will be two invoice..
1.Proforma/Commercial/Custom invoice
2.Tax invoice.
We should book the invoice as per the tax invoice becasue it contains freight and other charges..
And in regards..Forign currency rate we should use the average rate...
That means opening rate and closing rate average
1.Proforma/Commercial/Custom invoice
2.Tax invoice.
We should book the invoice as per the tax invoice becasue it contains freight and other charges..
And in regards..Forign currency rate we should use the average rate...
That means opening rate and closing rate average
Message likes :
1 times
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- Sales return eway bill
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- GST ON DAMAGED GOODS
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- 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
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
