entry of import purchase
This query is : Resolved
10 August 2010
what is the import purchase entry.supoose we purchase raw material from china rs.10 lakh.than what is the entry
import purchase a/c dr. 800000
custom duty a/s dr. 200000
to party 1000000
custom duty a/c group in duties & taxes
regards
rajiv
import purchase a/c dr. 800000
custom duty a/s dr. 200000
to party 1000000
custom duty a/c group in duties & taxes
regards
rajiv
10 August 2010
Purchase Import DRxxxxxxx
Cenvat(Rg23a-part_tt) DRxxxxxx
Cess On Duty Drxxxxxxxx
Cess S& H Drxxxxxxx
Addl Duty Crxxxxxx
Party Crxxxxxxxxx
Custome Duty Cr xxxxxx
Seafreight Agency Crxxxxx
Container Cororation Cr xxxxxx
CHA Crxxxxxx
Cenvat(Rg23a-part_tt) DRxxxxxx
Cess On Duty Drxxxxxxxx
Cess S& H Drxxxxxxx
Addl Duty Crxxxxxx
Party Crxxxxxxxxx
Custome Duty Cr xxxxxx
Seafreight Agency Crxxxxx
Container Cororation Cr xxxxxx
CHA Crxxxxxx
11 August 2010
sir why we are doing custom duty cr.while in purchase we are dr. the tax than sir what is the reason to cr. custom duty plz sir reply so soon
thanks
thanks
12 August 2010
Custome duty paid in advance with CVD, Cess, Custom duty & addl duty, so we credit custom duty to write off custome duty and all exps. will be cost of purchase.
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