Monetary items are those items  which fullfills 3 conditon i.e.

recivable/payble+amount is fixed under a contract+to be setteled in foreign currency

if ur tanking about a advance which is nt to be setteled in future(thats what i m assuming ) it us nt an monetry item

yes if the advance is for supply of goods or something like that its not monetory item,

Monetary assets are those assets and liabilities which are received or settled in fixed determinable units of currency. In your case, against the advance from the customer u will render services and u will not pay in cash. Thus, advance from customer is a non-monetary item

Mr Garg, you can check the definition of the monetary items which itself explains that where an advance is received against which there will be supply of goods or services will be rendered then such advance is a non-monetary item as this will not be settled in fixed determinable units of currency.

Agreed with Sachin.

Because AS-11 will have impact in balance sheet where you have to show the balance,

Say as loan taken from foreign institutional investors or any asset purchased from foreign companies. Further the deposit is based on the conversion of indian rupee means you might have recieved the amount after conversion say Rs. 30000 as an advance and you will be liable even for the same. If you have received it in foreign currency then AS-11 applicability will be measured.