Import Purchase
This query is : Resolved
21 January 2011
If importer directly sold the goods from ICD to his customers without bringing the goods to his own godown, then which date is relevant for purchase entry and which day's exchange rate is relevant for this accounting entry.
22 January 2011
Purchase entry date is when ownership is transferred.
Exchange rate - date of transaction i.e. transfer of ownership.
Exchange rate - date of transaction i.e. transfer of ownership.
24 January 2011
Thanks sir for ur reply. Which date to be considered as dt. of transfer of ownership. viz payment of Custom duty date or any other date ? kindly rply.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund of AY 22-23
- Should I include march foreign salary received in April in my income for FY 2023-24?
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- GST APPLICABILITY ON POLLUTION CHECK SERVICE
- Applicability of Ind As to associate of associate
- 115TD on cancellation of 12A 80G Registration
- Declaration of Profit of foreign subsidiary in Indian holding Company
- Return material
- TDS is applicable on payment of Fix Meal
- Form ITC 04
- TDR receipts for agreement holder
- Point (III) 9 of GSTR-9C
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
