Accounting entry of custom duty
This query is : Resolved
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)
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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