Hi everyone,
One of my client has imported machine from China. The Import duty was there on the bill.
My Query is that how the entries be shown in the books??
I could not get it......
whther the import duty be stood in the a/c of Chinese co???
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Accounting for import duty
Replies (1)
Noted sir, that AMOUNT WHICH IS WRITTEN IN BILL OF ENTRY WILL BE MENTIONED IN ACCOUNTING.
Purchase A/C or Stock A/C Dr
To Creditors A/C or Bank A/C
To Freight A/C
To Duty A/C
(Being Machine Purchased)
MORE INFORMATION :
https://www.tallysolutions.com/website/CHM/TallyERP9/Dealer_Excise/Account_Custom_Clearence_of_Imported_Goods_.htm
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