30 August 2009
If 100 % payment is made in advance against good imported, is it that there will be no booking of foreign exchange gain/ loss ?
Also on what rate should the purchase booking on imports should be done ? On the date of Bill of Lading or on the date of BIll of Entry ? Also shud custom duty, C&F charges be debited to purchase a/c instead of their respective expense heads ?
CAclubindia
