Import Purchase Entry.
This query is : Resolved
17 June 2011
Dear Sir,
How to make Import Purchase entry for following facts :
I paid advance 20000/- USD ti Foreign Supplier @ 45.15. After 1 month, I received my shipment and all documents, i.e., Invoice, B/L etc. When I remitted USD to my foreign suppliers, I debited to him in INR. Now, after receiving the shipment and clearing it, how will I make entru pf Purchase in my books ? I will credit to foreign suppliers and debit to purchase a/c- but at what amount ? Also import duty & other CHA exp etc, how to give effect of these also. PLEASE EXPLAIN.
REGARDS
ANCKOORA.
How to make Import Purchase entry for following facts :
I paid advance 20000/- USD ti Foreign Supplier @ 45.15. After 1 month, I received my shipment and all documents, i.e., Invoice, B/L etc. When I remitted USD to my foreign suppliers, I debited to him in INR. Now, after receiving the shipment and clearing it, how will I make entru pf Purchase in my books ? I will credit to foreign suppliers and debit to purchase a/c- but at what amount ? Also import duty & other CHA exp etc, how to give effect of these also. PLEASE EXPLAIN.
REGARDS
ANCKOORA.
RAMESH KUMAR VERMA
(Expert)
17 June 2011
please search from the below mentioned link:-
https://www.caclubindia.com/share_files/export-import-accounting-entries-37679.asp
https://www.caclubindia.com/share_files/export-import-accounting-entries-37679.asp
17 June 2011
Dear Sir,
The link you suggested, has no answer to my "Import Purchase Entry" query.
Pl. you give me detailed guidance.
thanks
anckoora
The link you suggested, has no answer to my "Import Purchase Entry" query.
Pl. you give me detailed guidance.
thanks
anckoora
29 July 2024
https://docs.google.com/document/d/1EAzHao_QaTWocJyTP3q_41v4Lj7FN0NMHvedPRn4SVM/edit?usp=sharing
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