Custom Duty and IGST input credit in case of import of goods

[Former Member]

Hi guys,

I am new to Sap b1. Just wanting to take your help for initial setup and tax code creation for managing custom duty and Gst in case of import. Detailed scenario with example is as follow:

Unit price: USD 100

Qty: 10

Custom duty: 10% i.e. USD100 (100*10*10%)

Social welfare cess: 10% of custom duty i.e. USD 10 (100*10%)

Exchange rate: INR70=1USD

Assessable value for Gst: INR 77,700 [(USD1000+USD100+USD10)*70]

GST: 18% of AV: INR 13986 (7700*18%)

Custom duty and social welfare cess need to capitalize with inventory cost through landed cost.

GST can be claimed as Input, hence this need to park in Input GST GL. (I believe this can be managed through reverse charge code where input credit can be posted in Input ledger and on the other side GST payable can be posted in other ledger which can be knocked off at the time of payment of Gst)

All above taxes need to be paid to CHA agent/ broker.

Please help me with process, tax code creation.

I would be really grateful for this.

Thanks in advance!!

Regards,

Virender

[former_member302672]

Hello,

Please go through the Knowledge Base Article:

2496673 - GST IN: Imports process overview and Configuration

Thanks & Regards,
Minu

[former_member1324339]

how can i see that solution sir please give brief answer