Ind AS 21 - Accounting of Foreign Exchange transactions

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..... What is the exchange rate to be adopted while booking in the Books of Account in case of Imports when advance has been paid. Eg - Advance paid on 01/03/2017 - 100$ ($ = 69) date of Bill of ent .....

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..... ry 10/03/2017 - 150 $ ($ = 70). At which exchange rate the entry shall be posted in the Books of Account? - Reply By Govind Gupta - The Reply = in my view, the rate should be transaction date rate .....

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..... ( meaning when actual advance has been given and such amount both INR and USD will be available from the bank statement), also bill of entry date is not relevant as advance might have been paid before .....

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..... the good would have been received. - Ind AS 21 - Accounting of Foreign Exchange transactions - Query Started By: - Aitha RajyaLakshmi Dated:- 10-4-2017 Accounting - Auditing - Got 1 Reply - Compani .....

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..... es Law - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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