Rate of exchage

I think now rate notified by RBI will be used because in GAAP we refer to RBI rate not CBEC rate.

2. Date of PoT will be considered for making reference to Exchange Rate.

PoT = Invoice or Payment, whichever is earlier.

In case of Advance : date of receipt of advance will be used to determine rate of exchange applicable.

In case of issue of invoice : date finalised as per PoT rules, will be used.