import to be recored at exchange rate or Bank Rate???
This query is : Resolved
17 August 2010
hello friends,
purchase of 1000usd product from USE
on the date of purchase
exchange rate 45
& Bank Rate 45.5
my question is we have record purchase entry on exchange rate or bank rate??
waiting urgently for ur reply.
thanx in advance
my id abhipcc@rediffmail.com
purchase of 1000usd product from USE
on the date of purchase
exchange rate 45
& Bank Rate 45.5
my question is we have record purchase entry on exchange rate or bank rate??
waiting urgently for ur reply.
thanx in advance
my id abhipcc@rediffmail.com
17 August 2010
Hello
As per AS-11 Import should be recognized in books of accounts at Exchange rete on the day of purchase.
As per AS-11 Import should be recognized in books of accounts at Exchange rete on the day of purchase.
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