Menu
Advance payment from foreign buyer against exports.
what will be the effects of Advance payment received from Foreign Buyer against Export?
case 1: - If i hold the Advance payment more than one Year.
Case 2: may i refund this advance payment after one year ?
Replies (2)
You have to adjust for exchange fluctuation. It will always be a monetary liability no matter how long you hold it. This is due to the reason that the essence of advance is against trade assets which are monetary assets.
IS there any rule and regulation from RBI, against this situation (or these case) ?
if i adjust this amount with exchange fluctuation.
Recent Topics :
- Discuss and Download CA Inter Question Paper Septe
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
- Hi experts need some help
- Is SAP FICO a good career option for finance and a
- Direct Cost booking
- TDS on Property Purchase Paid
- Cash Purchase Above ₹10,000, ITR/40A(3) Trea
Related Topics :
CAclubindia
