good evening sir
this is timber business import purchase
i have purchased timber paid custums duty and igst
bill of entry added custums duty + igst
how to adjust party given bill
custum duty added double entries
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Custums duty
Replies (1)
Dear Netizen,
On each bill of entry for home consumption, you can avail input tax only IGST and not basic customs duty.
So, Basic customs duty would be added to your raw material cost and IGST can be availed to offset your output taxes.
Venkat
venkat6688 @ gmail.com
9972047758
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