posting missing for price difference account
I am stuck up with the following problem and its extremely urgent !!!
I have an imported material PO. The customs invoice has been made. In it, the following entries are there:
ECess on CVD (Inventorised)
SECess on CVD (Inventorised)
ECess on Customs
SECess on Customs
Additional Duty (Inventorised)
However, when I am doing the MIGO for the part after this, the inventorised components are missing. The material is having Moving Avg. price and the stock level on the day of MIGO was nil. The inventorised duties are supposed to be posted to the price difference account in that case. But it is not showing any entry for PRD.
Any clues? Please help
Sridhar Thota replied
In case of Imports the treatment of duty will be as under
Basis Customs (Inventorised)
ECess on CVD
SECess on CVD
ECess on Customs (Inventorised)
SECess on Customs (Inventorised)
4 Duties will be set-off and 3 will be inventoried.
During Commercial/Customs MIRO
Customs Vendor will be credited
Setoff duties will be dibited to Cenvat clearing account
Inventoried duties will be dibited to Customs clearing account.
Stock account will be dibited
GR/IR account will be credited
Customs clearing account will be credited
Customs duties will not be loaded to PRD
If you are not getting the customs clearing account then in pricing procedure maintain seperate accounting key for 3 inventoried custom duty condition types and assign seperate GL account in OBYC for that accounting key.