Entry IMPORT
This query is : Resolved
22 July 2021
Dear Sir ,
We have imported the goods by making the advance payment to the party , and custom duty also paid for the custom clearance . how to pass the journal entry with head wise .
We have imported the goods by making the advance payment to the party , and custom duty also paid for the custom clearance . how to pass the journal entry with head wise .
CMA Poornima Madhava
(Expert)
22 July 2021
Purchase of goods:
Purchase A/c
To Supplier A/c
Payment of duty:
Customs Duty A/c Dr
IGST ITC A/c Dr
To Bank (or Customs duty payable) A/c
Customs clearance:
Customs clearance charges A/c Dr
CGST/SGST ITC A/c Dr
To Service provider A/c
Purchase A/c
To Supplier A/c
Payment of duty:
Customs Duty A/c Dr
IGST ITC A/c Dr
To Bank (or Customs duty payable) A/c
Customs clearance:
Customs clearance charges A/c Dr
CGST/SGST ITC A/c Dr
To Service provider A/c
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