Imported purchases

Vks (28 Points)

22 June 2007  

Hello

Friends

One of my client has imported material and same is kept with warehousing bond and  is removed from bond as and when required. When material is removed from bond it it booked under purchases and whatever material remains on 31st march in bond is shown as material in transit. Rent of warhousing bond is born by my client. Is this proper accounting or should entire purchases be booked under purchases.

 

kindly share yr expret vier.

 

Regards.

VKS