Import Entry in Tally

Dear prabhat
plz find entry you wanted you know.
its quit easy as usual
Purchase A/c Dr
IGST @ 18% A/c Dr
To supplier A/c
further for your info
Exchange rate to determine the conversion value for imported goods is the date on which you filed bill of entry.
therefore whether by what exchange rate you have made payment not relevant.
custom will charge duty on that conversion value which was prevalent at the time of filling shipping bill/bill of entry.
Warm Regards
Ghayas Ahmad
Ghayasahmadkhan @ gmail.com

Dear Sir, thanks for your detailed reply.

If I take customs AV than what to do with difference of amt between paid and customs valuation.

Earlier we used to debit full customs duty as expenses, now should we take only BCD and cess as exp and IGST as input credit.

Dear sir Now entry will be under reverse charge like purchases from unregistered supplier . Then do entry for increase tax liability and increase input tax credit in journal under alt+j ( stat adjustment) for that igst amount and make payment of igst amount under (stat payment) alt +s in payment . It will finish entry for igst amount under reverse charge. For custom duty paid and other expenses like stamp duty custom duty will add in cost . For that you need to do entry in journal normally . No extra method . If have any better solution then kindly write It will help full

Suppose   ABC company import purchase from ( China) XYZ limited
particulars	Qty	Rate	Amount
Invoice value	$200	65	13,000.00
freight	$50	65	3,250.00	india
Insurance @ 1.1%			143.00	india
A.v			16,393.00
Custom duty			1639	india
Education cess			492
total value			18,524.00
IGST			3334
HOW CAN WE MAKE ENTRY IN TALLY
According you  We take reverse charges base
Account entry will			Import purchase a/C			18524	(Dr)
			XYZ  Limited					18524	cr
Then  through  statement adjustement entry in tally (Alt+j) and (Alt+s) we will settle the  Gst Liability  and Input credit of IGST
But  questuon is here that
we have to pay only    $200X65.00  to  China party  not all
So how can you show the  presentation  correctly

So how can you show the  presentation  correctly 

CHA CHARGES IS DIRECT OR INDIRECT EXPENSES?

In tally  we do bank reconcilaltion by just changing that bank date on which cheque is cleared.

Also you can Auto import Bank Statements Entries in Tally with cheque data by SMAART Excel Utility.

Try - https://www.xltally.in  |  https://www.nikash.in