Accouting Entries of Import
This query is : Resolved
18 June 2010
Can anyone give me detail accounting tretment for taking credit of various custom duties and availing that credit in general?
Ram Avtar Singh
(Expert)
18 June 2010
DEBIT
Purchase Import 2579412.50
Cenvat(RG23A-II) 261395.00
Education Cess 5228.00
Higher & Secondary Cess 2614.00
Addl Duty 115800.00
CREDIT
Metals Internationals 2377996.00
Custome Duty 521324.00
Handling servces P.Ltd 62047.00
Cargo carriers 2757.50
Cargo carriers reimbursment 325.00
Being amount of purchase
Purchase Import 2579412.50
Cenvat(RG23A-II) 261395.00
Education Cess 5228.00
Higher & Secondary Cess 2614.00
Addl Duty 115800.00
CREDIT
Metals Internationals 2377996.00
Custome Duty 521324.00
Handling servces P.Ltd 62047.00
Cargo carriers 2757.50
Cargo carriers reimbursment 325.00
Being amount of purchase
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