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Former Member
Apr 11, 2008 at 07:06 AM

Partial payment

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HI Gurus,

The scenario is like this

My client Import material.For duty purpose he is not taking all the goods.Instead the goods are keeping in third party warehouse and when needs he is taking the goods partly and paid the import duty to customs.

The full amount of the goods will be paid after 90 days due to credit limit given by the consignor.

What is the process flow for this.And what are the accounting entries for partial payment of duty

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Regards

Pranaya