Please clarify whether renewal charges of loan will come under the finance cost.
Please explain applicable loss on foreign currency transactions and translation. whether it will come under finance cost.
CA Suraj Prasad Shaw (Chartered Accountant) (504 Points)
26 May 2012Please clarify whether renewal charges of loan will come under the finance cost.
Please explain applicable loss on foreign currency transactions and translation. whether it will come under finance cost.
P VEDAVALLI
(MANAGER )
(34 Points)
Replied 26 May 2012
Impact of As 10 to be shown seperately otherwise it is finance cost
Roshan A
(Chartered Accountant)
(458 Points)
Replied 26 May 2012
Guidance Note on Revised Schedule VI by ICAI:-
"Net exchange gain/loss on foreign currency borrowings to the extent
considered as an adjustment to interest cost needs to be disclosed
separately as finance cost"
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