Foreign exchange gain or loss

CA Rajnik Galani (prctice) (154 Points)

22 February 2014  

Dear Friend,

I Import Machinery At  10000 $ And On Payment Date Exchange Rate Is Rs. 60

And In Same Finalcial Year Bill Received And On That Date Exchange Rate Is Rs. 62

So, My Question is At Which Rate i Recognised My Asset And Diff Is Capitalised Or Credit Or Debit To P & L A/c