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Custom duty

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 August 2011 Dear Experts

Custom duty paid on import is not Cenvatable and under which head we have to creat Custom duty ledger a/c

Pls clarify

thanks in advance
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Preety Parik

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Preety Parik (Expert)
11 August 2011
If the good imported is capital Asset, custom duty will be debited to the respective Capital Asset A/C. If it is a trading good item debit to the respective trading goods A/C.

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