Skip to Content
0
Former Member
Feb 24, 2009 at 12:13 PM

Import Cycle !

56 Views

Hi All,

I have the issue(confusion) reagrding Import cycle -

Scenario is like this.

PO value (material price) = 10USD X 10EA =100 USD (say exchange rate as 1USD=5 INR)

Customs duty non setoff = 50 INR

Customs Duty setoff = 50INR

NOW following are the accounting Entries:

AT MIRO for Customs-

Customs vendor Cr 100 INR

CVD clr Dr 50 INR

Customs Clr Dr 50 INR

AT GR -

Material account 500

GR/IR account 450 INR (here is the problem 50 INR less)

Customes Clr 50 INR

AT MIRO for import vendor

Vendor 500 Cr

GR/IR 450 INR Cr.

Material account 50 INR Cr.

Why system is behaving like this

regards,

sujit