Rawmaterials are imported from outside india. It was not cleared from the port for a long time. The dumerrages payble is more than the value of goods. Then the goods are autioned by the agent and the total consideration adjuested towards his charges . Nothing was received by the Importer. In the same Importer has to pay money for the Goods to the supplier.
How we can create liablity to the supplier in our Books. I thing with out receiveing the goods inside the factory, we can't treate as purchase.
sugguest the Entry for this a/cing
CAclubindia
