We had made an import from Japan for ¥17000 on 08.03.2011. but I am confusing on which convesion rate, the entry will be booked in our accounts. either it is import date exhange rate or accounts booking date or bill of entry rate.
you made import from japan and exchange rate will be applicable which is prescribed by cbec.
(BILL OF ENTRY RATE APPLICABLE)
in the month of march exchange rate is 1 Japanese yen is =Rs.55.55
when a service is exported or imported the central board of excise and custom PUBLISH THE EXCHANGE IMPORT -EXPORT EXCHANGE RATE WITH THE VARIOUS COUNTRIES.
FOR MORE INFO:-
READ section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.102/2010-CUSTOMS (N.T.), dated the 29th December, 2010 vide number S.O.3054 (E), dated the 29th December, 2010
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