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Refund of Forex Advance

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I had made an Advance in Euros for a machinery some time ago, however I have been forced to cancel the order now.

The advance had been made at a time when the exchange rate was 67 but today it is at 74. How would I have to treat the gain? This transaction is in a Ltd. company.

Foreign exchange gain treatment: record refund on cancelled forex advance in fluctuation account and notify regulators. Recognise the foreign exchange gain arising on refund of a cancelled import advance in the foreign exchange fluctuation account, and inform the authorised dealer and central bank that the advance payment was made and has been recovered. (AI Summary)
FEMA
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YAGAY andSUN on Jun 5, 2013

Please boook the gain in the account of foreign exchange fluctuation account.  Also inform the AD/RBI in this regard that you had made an advance payment and now got it back.

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