i have to prepare system for accounting on DGFT benefit. Kindly give me accounting entries for DGFT transaction. As per my point of view following entries should be passed.
At the time of export DGFT/Advance licence Dr Export Incentive Cr
At the time of Sale to 3rd party Customer Dr DGFT/ Advance Licence Cr
At the time of Adjustment to custom duty Custom duty payable Dr DGFT/Adcance Licence Cr
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