PURCHASES IMPORT

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Guarav Sharma

Guarav Sharma (Querist)
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04 May 2011 Respected Sir / Mam,
Kindly assist me regarding audit procedure of purchases import.

CA Sanat Pyne

CA Sanat Pyne (Expert)
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04 May 2011 1. Check the Purchase order by the Company
2. Check the Bill of Entry specifying the details of goods received
3. Check the vendors invoice for amount in Foreign currency
4. Compare the same with the purchase order in all respects
5. Lastly check the amount of custom duty charged and accounting of the same

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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04 May 2011 thanks expert,
mr.sharma you can also check the details of foreign currency from BRC.and other sources like bill of entry, packing list, and copy of letter of credit.

also check the import sales contract.

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