Accounting treatment - imports and exports of goods

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Sravan Reddy G (Querist)
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26 January 2019 Dear sir,
Can you Plz help me how to Do accounting for Imports and Exports of Goods.
Eg. I had Imported 10,000/- Value stock and I paid all Taxes like Customs and IGST and Other.

I am Treating
Purchase Value (Paid to Debtor) - Treating as Purchas i.e.,10,000/-
Bank Charges - Treating as Indirect Expenses
Customs and other I am - Treating as Indirect Expenditure. One to the Amount extant IGST is treating as Asset since we get ITC in gst .

IS that Treatment is Correct.

And also Say Exports of goods Entry.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 January 2019 Treat customs and other as direct expenses.

Sravan Reddy G

Sravan Reddy G (Querist)
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28 January 2019 Other Expenses means Bank Charges and Cess to Treat them as Direct Expenses aaa.
But as per which Standard it has to show like that

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