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Rate of exchange to consider for export sale
while booking of export sale which rate to consider. shipping bill rate, banks notional rate or the rate on which date invoice raised.
Replies (2)
as per AS-11, the exchange rate for incomes and expenses is the rate prevailing at the date of transaction
In the books while accounting , take the rate On the date of invoice , generally SBI TT rate ( since it is close to commercial bank rates. )
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