Forex Treatment for acquiring Fixed Asset
This query is : Open
31 May 2010
I purchased a fixed asset from U.S.A. for Rs. 10000/-. Payment was made after 2 months at Rs. 12,000/- due to $-INR flucuation. Whether the difference of Rs. 2,000/- should be capitalized or written/off to P/L A/c as Forex Loss?
31 May 2010
Exchange difference should be capitalised.
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