Import and export guidance

Sumit Agarwal (CA Final Student) (79 Points)

08 April 2015  

Hello everyone out there,

I am a CA Final student and has completed my articleship training...But unfortunately the firm in which I was working as an articled assistant, there was no import export client... Can u please guide me how the entries of import and export are made alongwith scanned copy of documents so that I can understand, from where the figures(amount) has been taken...Also from where and which rates(day end rates?) are taken for conversion of transaction into local currency...Please help, I believe its a query of lots of people which needs attention...

Warm regards,

Sumit