Hello friends want to know accounting entry for advance import Payment. for eg. lmport payment made on 25-07-23, and booked on 02-08-23 in this case which conversion rate has to be taken also adjustment has to be shown in advance payment date or on the date of import booking?.
please solve the query.
Menu
Advance import Payment
Replies (1)
Always the spot rate on the day of conversion.
Purchases day spot rate
- settlement date spot rate
Difference taken where? You ask as accountabt
Recent Topic
- GTA Annexure V Non Compliance
- Calculation of Demand due to interest u/s 220(2)
- Legal profession business code in section 44ADA
- Whether Indexed Capital Loss Can Be Claimed Under
- Form 145 and 146 Foreign Remittance in Excel Forma
- E invoice missed out/not generated for FY2025-26
- Can a broker's software legally override actual po
- Startup exit in Sept 2025: Can I still save LTCG t
- Need advice
- GST registration
Related Topics
CAclubindia
