What is the Treatment i.e. Acctg. Entry for Import Recd. from the Exporter, if they deducted payment and then send the import. What is the treatment if the party has send full inv. amt. then send the import, how to entered the same what is the tax treatment for the same
Menu
Accounting entry for import
Replies (1)
1- If you pay advance payment/ Party payment
Party (exporter) a.c Dr
Bank charge a.c Dr
to Bank account.
2- For purchase accounting ( and deduct from advance)
Purchase a.c Dr
S.Freight A.c Dr
Insurence a.c Dr
To Party ( exporter) after advance deduction
To party (exporter) advance amount
Recent Topics :
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
Related Topics :
CAclubindia
