How to pass import entry

In case when Import Duty & IGST is paid by You:

Entry By commercial Invoice:

Purchase Import A/c ... Dr
To. Party.....................Cr

Entry By shipping Bill or Bill of Entry

Custom duty A/c ....... Dr
IGST A/c.......................Dr
To Custom Duty payable. CR

When Custom Duty is paid :

Custom Duty payable A/c Dr
To Bank...........Cr

take the ITC in 3b under table 4





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Sir igst ka leder under kya hoga aur IGST KA REFUND ENTRY KAISE HOGA AUR UNDER KAUNS ALEDGER

 

Dr. Purchase

Dr. Igst

Dr. Foreign translation loss ( or credit gain)

Dr. Import charges

Cr. Supplier

Cr. TDS if applicable

Cr. Payables