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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Price inclusive or exclusive of GST while made entry in P& L Account
- Minimum tax payable to file Updated return
- Dep. as per companies act
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Tds on commission charges
- Applicability of GST on Salary Reimbursement Component
- UDIN ISSUE
- GST ISSUE OF INPUT AND OUTPUT GST
- FAST-DS Scheme - Foreign Assets
- Salary from Qatar in Dollars in India
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
CCI
Pro
CAclubindia
