Accounting entry of custom duty
This query is : Resolved
manohar pawar
(Querist)
22 July 2011
Dear All,
1.We have import material from Italy. when the material arrived at Mumabi port we paid Advacne Custome duty to Commisioner of Custom. i wan to know how to pass that entry in tally.
i have pass payment entry like
Comm of Custom a/c--------------100 DR under current assets
To Bank A/c ---------------------------- 100 CR
2. second is we received bill of leading copies and vendor invocie there r also custom duty. i want know how to knokout both custom duty.
genrally we pass vendor entry.
Venodr A/c ------------200Cr
Goods A/c ------------- 100DR
Custom Duty-----------100 DR current assests.
3rd entry is
. Custom duty a/c --------DR 100
Commisioner OF Custom -------cr 100
but in this case some where in custome duty remian debit balance .pls tell me where i should heat the custom duty
how will pass the entry in tally.
and also give me the Group like ( Cuurent Assest or CL)
1.We have import material from Italy. when the material arrived at Mumabi port we paid Advacne Custome duty to Commisioner of Custom. i wan to know how to pass that entry in tally.
i have pass payment entry like
Comm of Custom a/c--------------100 DR under current assets
To Bank A/c ---------------------------- 100 CR
2. second is we received bill of leading copies and vendor invocie there r also custom duty. i want know how to knokout both custom duty.
genrally we pass vendor entry.
Venodr A/c ------------200Cr
Goods A/c ------------- 100DR
Custom Duty-----------100 DR current assests.
3rd entry is
. Custom duty a/c --------DR 100
Commisioner OF Custom -------cr 100
but in this case some where in custome duty remian debit balance .pls tell me where i should heat the custom duty
how will pass the entry in tally.
and also give me the Group like ( Cuurent Assest or CL)
RAMESH KUMAR VERMA
(Expert)
22 July 2011
LINK IS:-
https://www.caclubindia.com/experts/accounting-for-customs-duty-247855.asp
https://www.caclubindia.com/experts/accounting-for-customs-duty-247855.asp
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