Skip to Content
avatar image
Former Member

Accounting Entries for export under claim of rebate

Dec 14, 2016 at 02:34 PM | 251 Views

Hi All,

We export under Bond. Now company has decided to go with rebate along with Bond. Procedure and accounting of both these processes are different.Invoice for Export Under Claim of rebate Accounting is needed.

Is there any standard procedure.?

Please let us know.

Internationalization and Unicode
Add comment
10|10000 characters needed characters exceeded

  • Get RSS Feed

3 Answers

  • avatar image
    G Lakshmipathi
    Dec 16, 2016 at 08:38 AM

    Yes obviously both are different process and you need to have a different G/L Accounts. Discuss with your FI team, assign this in SPRO > Logistics-General

    Add comment
    10|10000 characters needed characters exceeded

  • avatar image
    Former Member
    Dec 20, 2016 at 01:11 PM

    Thanks for reply,

    Basically am from FI team, where actually we configure? You mean account Determination?

    Actually for local Export automatic posting happens at the time of excise posting like below:

    Cenvat suspense a/c...Dr

    Excise duty liab a/c...Cr

    Is it same way possible to do for export claim under rebate?

    Add comment
    10|10000 characters needed characters exceeded

  • avatar image
    G Lakshmipathi
    Dec 22, 2016 at 12:19 PM

    Under Logistics-General, there would be one option to choose Maintain Default Excise Groups and Series Groups where you can have a new Excise Group and Series Group (one each for Bond and Rebate). For this new groups, you can set the required G/L Account under Specify G/L Accounts per Excise Transaction

    Add comment
    10|10000 characters needed characters exceeded