We r paying customs duty while importing Raw Material. Do we need show customs duty as seperate expense or can it be part of Purchase ?
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Accounting
Replies (2)
Baiscally the custom duty is a part of Purchase but for clearity you can maintain a seperate a/c which will shown in Trading account below purchase account. If you are maintaining seperate account for cuatom duty then it will helps you in bifergation of purchase at the time of Balance Sheet where you have to provide segment wise report.
agree with rajesh
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