Exports goods returns
This query is : Resolved
20 April 2019
Please tell me we made sales to china subsequently sold goods are return. we take the return goods payment of custom duty (Ex Custom duty paid is Rs.250000,in that Rs.150000 is Eligible for IGST input), My Question is the balance (250000-150000=100000) Rs.100000.cost added to Sales Returns? . Please give Accounting entry for above query with example.
CA R SEETHARAMAN
(Expert)
21 April 2019
Yes add it to cost of sales return.
Sales return stock Dr 100000
To customs duty cr 100000.
Sales return stock Dr 100000
To customs duty cr 100000.
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