How to record import transaction under Tn vat/cst

how to record import transaction in tally?

1.Invoice Amount

2.Import Duty paid

3.C& F charges

4.Port charges (D.O chgs & CFS chgs etc)

pls explain

Replies (1)

at the time of payment to vendor 

Purchase a/c dr 

Bank charges a/c dr

to bank a/c 

Being the invoice amount paid to vendor agains tinvoice no ...........

 

at the time of clearance from customs

Purchase a/c (duties and taxes) dr 

Purchase a/c ) (port and C&F charges) dr

Taxes* ( creditable in a/cs) dr

to Cash / Bank a/c 

being the amount paid on purchase of invoice no ................. towards clearance from customs

* Taxes means the CVD + EC which can be cenvatable in hands of buyer manufacturer, otherwise it would go added to "duties and taxes" which represent customs duty/ additional duty/ Special additinal duty etc.

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