Accounting of duty drawback

28392 views 8 replies

Hi.

May i know whether there is any expert opinion on accounting treatment for duty drawback?

Replies (8)

Hi

Duty drawback receivable a/c   Dr

   To P&L a/c  Cr

(On being export of DBK eligilble goods )

Duty drawback received a/c Dr

    To Duty drawback receivable a/c  Cr

(On receipt of DBK )

 

 

sir plzzz suggest duty draw back entries ....plzzz

Hi ,

On Export of Goods (Subject to AS-9)

 Duty Drawback receivable A/c (Current Asset)

    To Duty drawback A/c (Income)

 

On Receipt of Duty Drawback

  Bank A/c

    To Duty Drawback Receivable A/c

@ When invoice for Export is booking in the Books of Accounts:

Duty Draw Back Receivable A/c   Dr

  To Duty Draw Back ( Revenue ) A/c   Cr

( Amount as per Shipping bill be considered and Invoice wise Duty draw back entries shall be passed )

@ on receipt of DDB

Bank A/c Dr

     To Duty Draw Back Receivable A/c   Dr

 

 

 

i am a merchent exporter. and we are getting drawback from custom . can you please tell me right entry. and can you tell me that as we get drawback that is income taxble or not. 

i am a merchent exporter. and we are getting drawback from custom . can you please tell me right entry. and can you tell me that as we get drawback that is income taxble or not. 

my number 9887744007

hi, i wlould like to know how we know the Duty draw back refund amt earlier?

 

or we have to pass both Entry at a time or only Receipt entry pls guide

Hi , i would like to know we have to pass both entry or only Bank A/c To Duty Drawback Receivable A/c will come pls guide

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
CA Articled Trainee And Paid Assistant

SKAA & Associates

New Delhi

CA Inter

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
24 June 2026
Chartered Accountant - GST & Direct Tax

APL

Mumbai

CA

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details