20 October 2011
Plz. consider the following situation and suggest me your opinion on 20.02.11 a Company paid Euro 500 to its foreign supplier. As on 31.03.11 amt. has not been adjusted as material has not been imported. Doubt is that whether such advance shall be restated at closing rate or not?
21 October 2011
if import not take place then exchange difference will adjest. but if import take place in future date then exchange difference can not adjest, because import amount will not changed in this case.
CAclubindia
