Purchase - imports
This query is : Resolved
08 September 2012
Sir,
If we have to booked the Import Invoice in the account system which exchange rate should consider for invoice as in the bunch of documents there are diff documents showing different rates i.e. one is on customs documents and 2nd is on Debit advice of seller and third is on Bill of Entry
so it create confusion for me
pls guide
If we have to booked the Import Invoice in the account system which exchange rate should consider for invoice as in the bunch of documents there are diff documents showing different rates i.e. one is on customs documents and 2nd is on Debit advice of seller and third is on Bill of Entry
so it create confusion for me
pls guide
08 September 2012
For import purchase there will be two invoice..
1.Proforma/Commercial/Custom invoice
2.Tax invoice.
We should book the invoice as per the tax invoice becasue it contains freight and other charges..
And in regards..Forign currency rate we should use the average rate...
That means opening rate and closing rate average
1.Proforma/Commercial/Custom invoice
2.Tax invoice.
We should book the invoice as per the tax invoice becasue it contains freight and other charges..
And in regards..Forign currency rate we should use the average rate...
That means opening rate and closing rate average
Message likes :
1 times
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
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- Confusion around Form 26QB fields
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
