How to pass entry for fllowing instance in tally or journal
Imported goods worth Rs.17,000/-.Invoice value is Rs.17000/-
(its incl. Rs.6,000/- freight), duty for this is Rs.4500/-
(its seperate).Kindly tel me how to pass entry for the
Duty and freight both will be part of imported goods.
(Since the question does not clear the nature of duty in
what section under the custom act whether credit are
permissible or not hence entry will be,
Purchase (items) a/c (17000+4500) Dr. 21500
To Creditors or Bank A/c 21500.
A change in accounting policy is justified
(a) To comply with accounting standard.
(b) To ensure more appropriate presentation of the
financial statement of the
(c) To comply with law.
(d) All of the above.