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EXCHANGE RATE

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Post by hafizah on Wed May 06, 2015 3:10 pm

HI ...

IF WE AND SUPPLIER USING a different USD currency rate ...

sample :


WE - PO : 3.620

Supp- INV : 3.650

Which currency should we capture in system?
or u have another alternative to void this different realised and unrealised.
Any supporting doc from Custom for this matter that I can refer to.


Thanks you.


hafizah

Posts : 3
Join date : 2015-05-06

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Post by joseph on Wed May 06, 2015 3:46 pm

Never use the exchange rate based on your PO.

Use the exchange rate used by the Customs, as stated in the K1 form to record the purchase transaction.

_________________


DISCLAIMER:
Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.

joseph

Posts : 277
Join date : 2014-09-25

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Post by hafizah on Wed May 06, 2015 5:58 pm


possible if purchase order have a gst collume ?

thanks in advance

hafizah

Posts : 3
Join date : 2015-05-06

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Post by joseph on Wed May 06, 2015 6:12 pm

If the prices of the goods are payable in foreign currency, there is no need to convert to Ringgit in your PO.

_________________


DISCLAIMER:
Any opinion expressed is strictly my personal view based on my understanding and interpretation of the GST Act 2014, Regulations, Orders, DG's Panel Decisions and Customs' Guides. You should seek advice from experts and/or the Customs Dept if the subject matter is significant to your business.

joseph

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