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???
CA Mukul Mittal (CA in practice) (384 Points)
19 July 2013Hi 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???
RAMESH KUMAR VERMA
( CS PURSUING )
(43848 Points)
Replied 20 July 2013
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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