Menu
Foreign exchange
after a sale
on a due date do exporters in India receive an agreed sum of a foreign currency.. or do they receive a payment dependent upon the current exchange rate?
Replies (3)
It all depends upon the AGREEMENT with the other party. So it can be either way.
If exporter receive payment in foreign currency then since it ll be converted into Indian Currency, hence exchange rate prevalent at that time holds relevance.
Whereas if as per the Agreement, Exporter is to receive payment in Indian Currency, in such case Forex rate holds no relevance.
payment against invoice will always be on desginated currency only which shall be as per contract agreed for while selling/ purchasing goods/ services.
thanks a ton guys ;)
Recent Topic
- My client missed to file ITR 3 for AY 25-26
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
Related Topics
CAclubindia
