on 03-06-2013 1:27 PM
Hello Experts,
One of our client has asked me about clarification regarding GR/IR Clearing Account shows different values when MIGO and MIRO posting. Scenario is that,
SEZ | ||||||||
Calculation of import Duty | % | Input goods | ||||||
Material Base Value | 2,171,385 | |||||||
Landing Cost | 21,714 | For computing Customs landing charges need to be added | ||||||
BED @ | 10% | 219,310 | Loaded in material cost | |||||
CVD, @ | 12% | 289,489 | Credit taken | |||||
Customs Education Cess | 3% | 15,264 | Loaded in material cost | |||||
ADDL Duty | 4% | 108,686 | Credit taken | |||||
Customs Duty | 632,749 | |||||||
CVD | 12% | 219,310 | ||||||
All duty | 4% | 108,686 | ||||||
Cenvat | 327,996 | |||||||
CST | 43,427.70 | |||||||
2214812.7 | ||||||||
Hence Material cost in GR/IR should be Rs. 22,14,813 | Diff (2219092-2214813= 4279) | |||||||
Whereas it is taking Rs. 22,19,092 |
My concern is that GR/IR Clearing Account consider only Material cost and non deductible tax amount i.e. CST which is loaded on material cost but system consider some different values, please check the above calculation. When user post MIRO in that case system automatically konck off GR/IR Clearing Account and post difference amount i.e. RS. 4279 to Inventory Account which is wrong. I dont know how system behaves in such manner.
Please giude me on this issue as soon as possible.
Regards,
Vishal Jadhav
Hi,
Logic is quite clear. GR account will contain all the decuctible and inventorized values. IF there is any difference in GR and IR values e.g per unit values, delivery costs etc, system witll adjust the values and post it accordingly.
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Hi
See Note 308008 - FAQ: Posting logic: GR/IR clearing account and related notes, and show it to your customer
Regards
Eduardo
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