Import duty in Tally
This query is : Resolved
21 September 2009
Hi,
I have a query relating to import duty of goods.
At the time of import of goods we have to pay customs duty (i.e. non-refundable) and excise duty (can be passed on to customer) i.e in this case we have to pay import duty (i.e. Custom duty and excise duty) for clearance of goods.
My query is how to treat this import duty in Tally because while entering purchase details the total cost will be taken into consideration i.e. custom duty will be added to the cost of the item and freight etc and excise duty can be passed on to the customer.
What will be accounting head for this import duty and will be classified under which kind of expenses whether Direct expenses or Indirect expenses or under Purchase A/c
Kindly reply at the earliest.
I have a query relating to import duty of goods.
At the time of import of goods we have to pay customs duty (i.e. non-refundable) and excise duty (can be passed on to customer) i.e in this case we have to pay import duty (i.e. Custom duty and excise duty) for clearance of goods.
My query is how to treat this import duty in Tally because while entering purchase details the total cost will be taken into consideration i.e. custom duty will be added to the cost of the item and freight etc and excise duty can be passed on to the customer.
What will be accounting head for this import duty and will be classified under which kind of expenses whether Direct expenses or Indirect expenses or under Purchase A/c
Kindly reply at the earliest.
Madhukar N Hiregange
(Expert)
03 October 2009
The amount which is not tobe passed on is the cost of materials - added to purchases
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Issuing of delivery challan by seller of goods
- EPF ECR NEW RULES Sep 17th 2026
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
