What is the diffrence between Suspense a/c and imprest a/c
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Imprest account means advance paid for expenses and suspense
account means amount paid but not recoverable (doubtfull)
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What will be journal entry of cost of goods sold.
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An importer import some goods @10,000 us dollar on cif basis following dollar rates avilable on the date of presentention of bill entry.(1) Rbi floor rate 46.35,(2) rate notify by CBE AND C under section 14(3)(a)(i)of custom act Rs.46.55 (3) Rate at which bank has reliased the payment from importer Rs.46.58, what will be assessable valu according to custom act?