Bank charges amount included in invoice of import

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 February 2013 whether Bank Charges amount included in Import Invoice will be shown as separate or will be combined as Material Purchased Charges as per AS-2 (Inventory Valuation) in Books of Account Pls Tell me..............

Sambu Suresh

Sambu Suresh (Expert)
Follow

10 December 2013 Bank charges are in the nature of Finance cost. The charges like LC are charges against the security of the transaction or document. These are generally in the nature of Administrative expenses.

Cost Accounting Standard 6 also suggest to not to add the bank charges as part of Raw material cost.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Hanuma Yanduri

Jai Solanki

George Innocent

Ravikumar

sandhya.v

Subscribe Now

Bank charges amount included in invoice of import

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

GST CONSULTANT

CA Final

Senior Executive

Manager- Finance and Compliance

Accountant