Forex Loss

This query is : Resolved 

27 April 2011 Dear's

If Forex Loss due to purchase of machinery from USA.

Pls. Give A Entry and above loss can a take a part of capitailisation.

Kindly Advice To Me.
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Thanks
Arun


27 April 2011 First of all whether the loss is due to repayment of loan in foreign currency. If yes, then as per AS-11 the same needs to be charged to P&L. However, there is a difference of opinion on the same. As per Sch VI the same needs to be capitalised.
Hence if the amount is not material you can charged off the same.

27 June 2011 Thank You sir




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