Accounting For Customs Duty
This query is : Resolved
15 September 2009
Respected Experts,
Our Company Imports Goods For which Customs Duty is Paid. How to Account for Payment For Customs Duty Please Pass the Entry with Example.?
Can Customs Duty paid be taken as CENVAT Credit??
Our Company Imports Goods For which Customs Duty is Paid. How to Account for Payment For Customs Duty Please Pass the Entry with Example.?
Can Customs Duty paid be taken as CENVAT Credit??
15 September 2009
export rules will apply to cutom duty paid.
entry is :
Pur dr
Custom Duty Cr
Bank / Creditor Cr
entry is :
Pur dr
Custom Duty Cr
Bank / Creditor Cr
Message likes :
2 times
15 September 2009
Purchase Imort Dr(Diff of Credit)
Cenvat 8% Dr
Cess 2% Dr
S&H 1% Dr
ADDL Duty 4% DR
Party Cr
Custome Duty Cr
Shipping Agent Cr
CHA Cr
xyz Cr
Cenvat 8% Dr
Cess 2% Dr
S&H 1% Dr
ADDL Duty 4% DR
Party Cr
Custome Duty Cr
Shipping Agent Cr
CHA Cr
xyz Cr
Message likes :
1 times
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