Friday, September 12, 2008

How to show EDD and duty in Books of Accounts

Normally,any amount including Deposit and duty which is due from the Govt.Shown as receivable from the Govt.It is part of Asset in accounts.The test of UJE is that refunding amount should not charged to customer,and ,at the same time,it is claimed to Govt.
In another words, the amount due to customs and excise should not be brought to the company's
Profit and Lost account.
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