Rate of exchange for foreign currency supplies: customs notified rate governs goods, GAAP determined rate governs services at time of supply. The rate of exchange for valuation of supplies billed in foreign currency differs by supply type: goods use the customs notified rate prevalent on the time of supply, while services use the exchange rate determined under GAAP on the time of supply; billing in foreign currency triggers application of these rules.
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Rate of exchange for foreign currency supplies: customs notified rate governs goods, GAAP determined rate governs services at time of supply.
The rate of exchange for valuation of supplies billed in foreign currency differs by supply type: goods use the customs notified rate prevalent on the time of supply, while services use the exchange rate determined under GAAP on the time of supply; billing in foreign currency triggers application of these rules.
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