Advance payment of forex
This query is : Resolved
26 March 2019
our firm 100 % paid in advance by us $ in two installment and goods received after 10 days of final payment.
then what would be the purchase value ?
is value determined by the advance payment date (two installment ).
or value determined by the goods clearing date by the custom i.e. Bill of Entry date .
then what would be the purchase value ?
is value determined by the advance payment date (two installment ).
or value determined by the goods clearing date by the custom i.e. Bill of Entry date .
29 March 2019
Purchase should book by using the rate mentioned on BOE. and book the difference of exchange rate in exchange rate difference account.
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