DEPB Licence purchase

Accounting for DEPB License

1) For purchase of DEPB entitlement

DEPB entitlement     Dr.   100000

    To Party                                             100000

2) For import of material worth Rs 10L on which BCD is 1L (not cenvatable) and Rs 10000 is CVD (cenvatable) with payment of duty-

Raw material inventory Dr.     10L+1L

Cenvat receivable          Dr.      10,000

   To DEPB entitlement                           100000

   To BANK                                             1010000

The calculation is incorrect