Satish Makam (Asst. Manager - Accounts) (294 Points)
26 May 2010If 100 % payment is made in advance against good imported,
is it that there will be no booking of foreign exchange gain/ loss ?
Also on what rate should the purchase booking on imports should be done ?
On the date of Bill of Lading or on the date of BIll of Entry ?
Pls reply urgently
Bimal Mehta
(Senior Accountant & finance managerial)
(180 Points)
Replied 26 May 2010
| Originally posted by : satish makam | ||
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If 100 % payment is made in advance against good imported, is it that there will be no booking of foreign exchange gain/ loss ? Also on what rate should the purchase booking on imports should be done ? On the date of Bill of Lading or on the date of BIll of Entry ? Pls reply urgently |
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Foreign Exchange Gain / Loss Will be booked .
Rate of Purchase of Booking on Import Should be Done on Date of Bill Of Entry .
CAclubindia
