Fixed Assets purch. outside India by Parent Co for Subsi.Co.

Along with Debit note the parent compnay needs to submit the orginal invoices in support of debit note transactions, based on which susidiary can account for transacation crediting parental compnay and recognising asset as per the norms

Fine. On that basis,  Can I book Asset purchase entry.?

Parent Co. Dr. Note containing only Product value & Freight charges. Custom Duty has been paid by Subsidiary Co.  Pls. Let me know the Custom Duty payment entry.

Regards,

Thanks in Advance.......

Ajay

Here goes the entry

Assets A/c Dr

To Parent Co

(for value of asset as in debit note)

Asset a/c Dr

To Bank a/c or Import Charges a/c

(for value of custom duty paid on above)

Thank you so much....!!!

Ajay