Landing Charges
This query is : Resolved
uttam Chechani
(Querist)
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.
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
(Expert)
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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