DEPB ACCOUNTIN Treatment
This query is : Open
28 August 2010
Dear Experts
I am working is a firm we import goods for trading and some times we use depb for custom duty paid. we purchase depb and passed
these journal entry
Purchase a/c dr
vat a/c dr
to creditors a/c
and we do nat pass any entry that show we use DEPB for paid custom duty
please tell me the journal entry in these situations
1 when we purchase DEPB licence
2 when we paid custom duty
please reply
I am working is a firm we import goods for trading and some times we use depb for custom duty paid. we purchase depb and passed
these journal entry
Purchase a/c dr
vat a/c dr
to creditors a/c
and we do nat pass any entry that show we use DEPB for paid custom duty
please tell me the journal entry in these situations
1 when we purchase DEPB licence
2 when we paid custom duty
please reply
28 August 2010
DEPB Licence a/c Dr
To Creditor's a/c
(Being DEPB purchases accounted)
Customs duty a/c Dr
To DEPB Licence a/c
(Being DEPB used,to pay duty,accounted)
To Creditor's a/c
(Being DEPB purchases accounted)
Customs duty a/c Dr
To DEPB Licence a/c
(Being DEPB used,to pay duty,accounted)
Message likes :
1 times
28 August 2010
thanks
please tell me we pay more than depb price as vat and file vat return is this correct
please tell me we pay more than depb price as vat and file vat return is this correct
28 August 2010
dear sir
please reply one more question
for example if we purchase DEPB in Rs 100 and custom duty is rs 90 then how we treat 10 rs
please reply
please reply one more question
for example if we purchase DEPB in Rs 100 and custom duty is rs 90 then how we treat 10 rs
please reply
13 September 2010
The balance Rs 10 will remain as debit balance in DEPB License account until it is utilised against customs duty payment of any subsequent import.
Message likes :
2 times
13 September 2010
thanks for reply
but my question is that the value of depb 90 rs but we pay 100 rs and custom duty is 90 rs then how treat 10 rs. please reply
but my question is that the value of depb 90 rs but we pay 100 rs and custom duty is 90 rs then how treat 10 rs. please reply
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
