Dgft accounting entry

This query is : Resolved

Harsh (Querist)
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16 February 2015 Dear all,

i have to prepare system for accounting on DGFT benefit. Kindly give me accounting entries for DGFT transaction. As per my point of view following entries should be passed.

At the time of export
DGFT/Advance licence Dr
Export Incentive Cr

At the time of Sale to 3rd party
Customer Dr
DGFT/ Advance Licence Cr

At the time of Adjustment to custom duty
Custom duty payable Dr
DGFT/Adcance Licence Cr

Kindly give me direction or suggetion

Harsh

Harsh (Querist)
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16 February 2015 Dear Freinds,

There is one more doubt in above entries about how to knock off Export Incentive account?