Accounting STandard -11

This query is : Resolved 

19 September 2009 Our clients is Company and imported goods from outside India and it has incurred exchange loss payment of impted goods around Rs.45 lacs. I would like to know that,Whether provision for exchange loss is required to provide in to bokks of account?.
What will be tax implecation of exchange loss.

19 September 2009 yes, the provision is required



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