Hi an Imported assest should be capitaliised at the exchnage rate mentioned in the Bill of entry and not the payment rate . Just wanted to confirm where the same guidance is mentioned.
Menu
Capitalisation of imported capital assest
Replies (1)
dear pawan,
you are absolutely correct in doing so. any differnce aftermath due to fluctuation of exchange rate should be routed to P&L a/c.
cheers
ganesh agarwala
Recent Topics :
- On which amount 200% penalty under section 270A is
- RECEIVED INTIMATION U/S 399 FOR TDS PAYMENT ON PRO
- How do CA firms track SEBI/AMFI circulars and dead
- Jurisdictional validity of Sec 148 notice after fa
- Taxable Income or Not
- GST Input Tax Credit (ITC) on Camera Purchase &
- What makes CA Himanshu Singla different from other
- TAX TREATMENT AND ACCOUNTING ENTRIEOF PERQUISITES
- Gifting money to my father-in-law (my husband's da
- GSTR-1 JSON from marketplace exports (Myntra / Ama
Related Topics :
CAclubindia
