Purchase details:
1. Material Name: Calcium Carbonate
2. Imported from: Turkey
3. Quantity: 28000 kgs. (28 MT)
4. Commercial invoice rate: 115 USD per MT (FOB rate)
5. Freight: 1000 usd (56000 Rs.)
6. Insurance : 214 Rs.
Payments I made:
1. Bank commission charges: 3748
2. L/C payment for material - 183487 (181189 material charges(3220 USD X 56.27) + 2298 bank charges)
3. assessible value as per customs - 246648.06
a. inv value - Rs. 187992 (120 usd/mt X 28 MT X 55.95 Rs.)
b. ocean freight - Rs.56000
c. insurance - Rs. 214
d. landing charges @ 1% on a+b+c - Rs. 2442.06
4. Customs charges paid - Rs. 63765
a. BCD @ 7.5% on 246648.06 - Rs. 18498.6
b. CVD @ 12% on assessed value + BCD - Rs. 31817.6
c. customs education cess @ 2% on BCD + CVD - Rs. 1006.3
c. customs S & E H cess @ 1% on BCD + CVD - Rs. 503.2
d. addl duty - imports @ 4% on ass. value + BCD + CVD + Edu cess + S& E H Cess - Rs. 11939
5. CHA charges - 105000
6. Freight - Rs. 23000
7. Labour - Rs. 2000
I am finding it difficult to pass these entries. Since i have made these payments on different dates. Invoice amount is different from Assessible value. Can someone please pass all these entries in a dummy tally account and pass me the zip file for better understanding.
I have passed individual entries but stock value is less than the actual, since it should include all the costs.
I would really appreciate if someone can help in detail on the same.
CAclubindia
