Dgft accounting entry
This query is : Resolved
16 February 2015
Dear all,
i have to prepare system for accounting on DGFT benefit. Kindly give me accounting entries for DGFT transaction. As per my point of view following entries should be passed.
At the time of export
DGFT/Advance licence Dr
Export Incentive Cr
At the time of Sale to 3rd party
Customer Dr
DGFT/ Advance Licence Cr
At the time of Adjustment to custom duty
Custom duty payable Dr
DGFT/Adcance Licence Cr
Kindly give me direction or suggetion
i have to prepare system for accounting on DGFT benefit. Kindly give me accounting entries for DGFT transaction. As per my point of view following entries should be passed.
At the time of export
DGFT/Advance licence Dr
Export Incentive Cr
At the time of Sale to 3rd party
Customer Dr
DGFT/ Advance Licence Cr
At the time of Adjustment to custom duty
Custom duty payable Dr
DGFT/Adcance Licence Cr
Kindly give me direction or suggetion
16 February 2015
Dear Freinds,
There is one more doubt in above entries about how to knock off Export Incentive account?
There is one more doubt in above entries about how to knock off Export Incentive account?
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- ITDS U/S.194T of Firm
- Capital gain on sale and purchase of plot
- Invertaded duty struture
- Eway bill not cancelled within 24 hous what can be due
- EXPORT COMMERCIAL INVOICE HSN CODE
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
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
