ACCOUNTING TREATMENT FOR DIFFERENCE IN FOREIGN EXCHANGE RATES, Accounting - Auditing

[S.C. WADHWA]

A company imported machinery in month of Jan'14 from Sinagpore and installed and put to use before 31/03/14 but payment for same was made in May'14.

Please advice how foreign exchange difference will be dealt with as on 31/03/14.

Posts / Replies

[Pradeep Khatri]

Dear S.C.Wadhwa,

Please check AS-11 in this matter.

Regards

YAGAY and SUN

(Management and Indirect Tax Consultants)

[Pradeep Khatri]

Dear S.C.Wadhwa,

Link to AS-11 for your ready reference.

http://www.mca.gov.in/Ministry/notification/pdf/AS_11.pdf

Regards

YAGAY and SUN

(Management and Indirect Tax Consultants)