Clarification against import purchases
This query is : Resolved
Senthil Viru
(Querist)
26 March 2016
Dear Experts,
I want to know the procedure for accounting import Purchases and also i want to know if Assessable value in bill of Entry will be accounting in Financial Books.
I want to know the procedure for accounting import Purchases and also i want to know if Assessable value in bill of Entry will be accounting in Financial Books.
CA R SEETHARAMAN
(Expert)
26 March 2016
Import purchases account it on cost basis. Include all cost on actual basis till it reaches your place. Assessable value for bill of entry is not relevant for accounting.
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