A Ltd whose functional currency is INR, raised sales invoice for 1000 USD on 1st Jan 2023 @ INR 80 per USD. On 15th Jan 2023, received the full amount in Euro where 1Euro=95 INR, 1 USD = 85 INR and 1 Euro= 1.25 USD. Calculate the exchange gain or loss.
1 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 06 July 2023
Above transaction is resulted in to Exchange gain .
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