How to set Custom Duty ?

[Former Member]

Hi All,

I want to set custom duty for import invoices with the following conditions:

1. Vendor should NOT be credited

2. Inventory should be affected

The duty structure is:

Assessable Value : Price + 1%

Custom Duty @ 10% of AV (Part of Cost)

CVD @ 10% of Custom Duty (Claimable)

Ed Cess @ 2% of CVD (Claimable)

S&H Cess @ 1% of CVD (Claimable)

Custom E Cess @ 2% of (Custom DutyCVDEd Cess+S&H Cess) - (Part of Cost)

Custom S&H @ 1% of (Custom DutyCVDEd Cess + S&H Cess) - (Part of Cost)

Additional CVD @ 4% of (AV plus all above taxes) ( Claimable).

Please help...

Thanks.

[Former Member · Accepted solution]

Hi Sandeep,

Maybe best to dabble with the landed cost module. I have used it before and the vendor is only credited once the AP Invoice leg is generated. The stock will update the average cost price once the landed cost is done and the journal posted. You can maybe create some formatted searches in the landed cost module to assist with your formulae.

Regards,

Kiran

[Former Member]

Dear Sandip,

I' also facing same problem that how to deal with CVD,Edu Cess and SHE.Cess on CVD and Add. duty wihch is claimable but should not affect vendor account and so can not be posted in A/P invoice..even through landed cost documnet we can not handle it and we can't select taxcode in Landed cost document.

Please let me know how you worked around this problem ASAP

you can reach me on ( 09701446451) and check my business card for mail id

Regards,

Mukesh Agrawal