Landing Charges

This query is : Resolved

uttam Chechani (Querist)
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29 November 2010 Whether landing charges levied @1 % on good Imported are to be included While recording an entry either by claiming as an expenses or not?

Foe Eg:

Assessable value : 4500
Insurance Rs 150

Total value 4650
Exchnage rate : 45

Rs 4650*45 = 209250
Landing charge = Rs 2092

Total Rs 211342 /-

Excese Duty

Please tell me entry for what amount to be recorded in tally and what about landing charges.

Rajesh Kumar

Rajesh Kumar (Expert)
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30 November 2010 1% landing charges are merely for the purposes of calculation of custom duty..... in the books actual amount paid should be entered.

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