We are working on a scenario where Special custom duty (SED) should not be inventorized at the time of MIGO & should be available for credit availment similar to CVD in case of external import procurement.
Current Accounting entries at the time of MIGO as:
1000 1 89 208022 INV. STORE (IMP) 1.158,48 USD 1100 1100 BSX 208022 S
1000 2 96 106901 GR/IR Clg. Account 1.000,00- USD 1100 1100 WRX 106901 H
1000 3 96 107904 CUSTOM CLEARING(BCD) 101,00- USD 1100 1100 FR3 107904 H
1000 4 96 107904 CUSTOM CLEARING (ECESS)4,80- USD 1100 1100 FR3 107904 H
1000 5 96 107904 CUSTOM CLEARING (HECESS)2,40- USD 1100 1100 FR3 107904 H
1000 6 50 107902 Cenvat Clearing-SED 50,28- USD 1100 1100 ZSD 107902 H
Required Accounting entries at the time of MIGO as:
1000 1 89 208022 INV. STORE (IMP) 1.108,20 USD 1100 1100 BSX 208022 S
1000 2 96 106901 GR/IR Clg. Account 1.000,00- USD 1100 1100 WRX 106901 H
1000 3 96 107904 CUSTOM CLEARING(BCD) 101,00- USD 1100 1100 FR3 107904 H
1000 4 96 107904 CUSTOM CLEARING (ECESS)4,80- USD 1100 1100 FR3 107904 H
1000 5 96 107904 CUSTOM CLEARING (HECESS)2,40- USD 1100 1100 FR3 107904 H
To summarize the requirement for external import procrement:
1. SED Should not inventorized in MIGO
2. SED amount should be available in J1IEX for duty credit
3. SED amount should be available for credit availment
Please suggest a solution/work around to achieve this.
Regards
Rohit