Import purchase
This query is : Open
14 July 2012
sir,
plz suggest me reference site or kindly explain me the procedure related to import and accounting treatment of the same
1. how will we treat import duty paid and other expenses related to import like destuffing charges, storage charges, detention charges etc in accounts.
2. why the amount entered in the delivery note deffer from bill of entry
plz suggest me reference site or kindly explain me the procedure related to import and accounting treatment of the same
1. how will we treat import duty paid and other expenses related to import like destuffing charges, storage charges, detention charges etc in accounts.
2. why the amount entered in the delivery note deffer from bill of entry
14 July 2012
1. import duty paid is a expenses, and other associated expenses are also expenses and should be debited in p& l a/c
14 July 2012
ALL TAXES/ EXPENSES RELATED TO PURCHASES & WHICH IS NOT ADJUSTABLE ARE DEBITED IN DIRECT EXPENSES (TRADING ACCOUNT)
15 July 2012
sir
in VAT return purchase are entered from delivery note. that amount is entirely different from bill amount.
1 how DELIVERY NOTE amount calculated
2 How we we can tally purchase as per VAT return and Purchase as per accounts.
3 how we can treat exchange dereference (purchase date rate- Payment date rate) in party account.
in VAT return purchase are entered from delivery note. that amount is entirely different from bill amount.
1 how DELIVERY NOTE amount calculated
2 How we we can tally purchase as per VAT return and Purchase as per accounts.
3 how we can treat exchange dereference (purchase date rate- Payment date rate) in party account.
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