Which Rates to Take
This query is : Resolved
04 March 2010
Dear Sirs,
We have purchase some rowmaterial from foreign. the supplier produce bill in $ and the bill date is 09.09.2009. We receive the R/M on 10.11.2009 at our stock yard in port. My question is we will take rate of forex of which date for bill registration in our book.
We have purchase some rowmaterial from foreign. the supplier produce bill in $ and the bill date is 09.09.2009. We receive the R/M on 10.11.2009 at our stock yard in port. My question is we will take rate of forex of which date for bill registration in our book.
04 March 2010
At the time of clearance from port of ship when the imported goods arrived, one document namely bill of entry is received for the goods imported. On this document,exchange rate and assessable value under the excise act are mentioned. At the time of booking you need to book the respective import at above mentioned exchange rate and if the payment is made at later date, you need to book the exchange fluctuation for the difference amount.
05 March 2010
Agreed with the Expert.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- FORM 26A APPLICABILITY
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
