EXPORTS ACCOUNTING

At what rate exports have to be recorded in the books of accounts. Whether at CBIC rate or Exchange rate available on that date ?

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Quick Summary
This discussion clarifies the correct rate for recording export transactions in accounting. It addresses the common query of whether to use the CBIC rate or the prevailing exchange rate on the transaction date. The consensus leans towards using the CBIC rate, though an ICAI illustration suggests using the RBI/Reference rate, prompting a need for definitive guidance.

CBIC rate

But in this illustration given by icai, it showing that the revenue recorded as per RBI rate/Reference rate available on that date

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