Import Goods Cost Vs Customs Duty Value, Variance?
This query is : Resolved
20 February 2020
Sir,
Cost of Goods Import Rs.100000/- and paid as such amount to dealer but the customs duty Invoice value Rs.150000/- as pay duty of the value. The Variance of Rs.50000/-, How to account the variance entry? If vise versa?
Cost of Goods Import Rs.100000/- and paid as such amount to dealer but the customs duty Invoice value Rs.150000/- as pay duty of the value. The Variance of Rs.50000/-, How to account the variance entry? If vise versa?
21 May 2020
It has to be taken as a cost of goods in the books of accounts.
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
- Income tax return change regime form necessary or not?
- Tax Audit Mandatory or Optional
- EXEMPTION OF LONG TERM GAIN UNDER SECTION 54F
- Machinery taking back from repair work shop
- Refund of Rs.4,00,000/- pursuant to Appeal Order – Deceased Proprietor & Closed Bank Account
- Resignation of auditor and appointment and cfss
- MISMATCH AMONG GROSS TURNOVER AIS. ACTUAL SHOWING GST PORTAL AND GENIUS FROM GST PORTAL
- Rebate U/S 87A on Short Term Capital Gain on Sale Of Property .
- Stop filling ITR
- Partner retired
- Maintenance of asset register
- Sale of goods to the purchasing party
- 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
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
