Bank charges and shipping cost

This query is : Resolved

shafeeq (Querist)
Follow

23 June 2016 Hi
We are buying 150,000/- worth of goods from china and we paid by TT for the same.
Bank charged 250/- as TT charges. again, we paid 3500/- as shipping cost to the supplier.
How can i enter both expenses ?
Shall i include TT charges and shipping cost in Purchase value or do i show it separately under "bank service charges" and "Freight charges " respectively ?
Please suggest me through Journal entries

Rupesh Jain

Rupesh Jain (Expert)
Follow

23 June 2016 you can book under bank charges, and freight inwards/ clearing charges as direct cost of import of goods.

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

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

CA.Gopal Rathi

S J MITRA

CA Sunny Sharma

Moby Mogli

Vimlesh kumar

Subscribe Now

Bank charges and shipping cost

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

Article Assistant

CA Final

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY