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Foreign exchange rate

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article assistant
32 Points Posted on 11 November 2020
for accounting purpose of import, rate of foreign exchange is RBI reference rate on the date of bill of entry right?please correct me if I am wrong
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On 11 November 2020 at 10:22 Report
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The exchange rate is mentioned on the bill of entry. This rate is used for accounting.

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On 11 November 2020 at 13:34
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article assistant
32 Points Posted on 11 November 2020
But that is CBIC reference rate no
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On 11 November 2020 at 13:45
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Extract of AS 11. This would be helpful.

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On 12 November 2020 at 10:52


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