As11
Fayaz (Awaiting for results) (28 Points)
25 October 2014Fayaz (Awaiting for results) (28 Points)
25 October 2014
CA. Abhishek K. Pandey
(Manager (Advance))
(901 Points)
Replied 27 October 2014
Depends on contract terms and nature of asset. Since, you had paid money in Euro, your expense towards asset is limited to what you had done at the time of advance payment.
If it is current asset, you'll need to revalue it as per current rateor if it is long term, keep it at historical rate.