Vipul Acharya (Account Officer) (647 Points)
08 June 2019
Satya N Dharani
(Finance Professional)
(491 Points)
Replied 08 June 2019
follow Customs Exchange Rates notification;
https://www.cbic.gov.in/Exchange-Rate-Notifications
use latest one applicable to your transaction period.
ex:Exchange Rates Notification No.40/2019-Custom(NT) dated 06.06.2019. [Effective from 07th June, 2019]
CS M Pota
(Company Secreatary)
(3186 Points)
Replied 10 June 2019
You may book export entry considering Bank Exchange rate as on the date of Bill of Lading.When the actual remittance comes from the buyer or buyer bank you may consider hoghr or lower then the exchange rate at which entry was made as gain or loss.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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