Dear All,
A Ltd is to import goods on may 2010 for which the payment is to be made by March 2010 in euro.
full amount is paid now for the goods to be imported in the month of may
is it better to make payment now as the materialisation of transaction is in the next financial year.
whether the above transaction is to be treated as expenditure for this Fin. yr or to be taken as
advance payment .
what would be the tax implication since the payment is made this yr and the transaction materialise
in the next financial year
Regards
Malar
CAclubindia
