senthil kumar s (audit) (38 Points)
03 July 2009dear all
in my books last year i booked export creditors closing balance at RBI as on 31/3/2008,now the balance creditors of last year pending for payment so as on 31-3-2009 i taken the creditors at RBI RATE while calculating the exchange difference whether i have to compare last year rbi rate with this year or purchase booking rate with rbi rate as on 31-3-2009?
Abhishek Goel
(job)
(32 Points)
Replied 03 July 2009
u just have to record the exchange difference b/w last year and current year take the closing rates of last year & current year the convert the difference into home currency and record the amount
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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