custom duty
This query is : Resolved
09 March 2009
what is tratement of custom duty receivable .
whether income should be booked in p & l a/c or not?
whether income should be booked in p & l a/c or not?
chetan soni
(Expert)
09 March 2009
It depends on the treatement of custom duty payable. If the same has been dr. to P&L a/c then it should be booked as income.
CA J M Pattanayak
(Expert)
13 March 2009
What do u mean by Custom duty receivable ???
is it refund of duty excess paid ??
Then net it off against payment.
U cant show it as income.
is it refund of duty excess paid ??
Then net it off against payment.
U cant show it as income.
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