Bill of Entry

Bill of Entry

Training Guide Bill of Entry

Chain Sys ACE

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Table of Contents Bill of Entry ....................................................................................................................... 1

Process for Import Orders ( BOE ) ..........................................................................................1

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Training Guide Bill of Entry

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Bill of Entry

Process for Import Orders ( BOE ) Overview Customs Duty liability arises on import of material. Customs duty has to be paid in advance i.e., before the material is received in stores. The clearance of goods imported would be possible only after submission of the Bill of Entry in the specified format. Bill of Entry in India Localization helps you manage the documentation process and account for the liability arising from the transaction. Bill of Entry helps you manage the import process. Using BOE you can perform the following tasks: • Capture the vital information required for the creation of the Bill of Entry in the format specified by the Bill of Entry (forms) regulation. • Record the Total Customs Duty liability arising form the transaction. • Create an AP Invoice for the total Customs Duty liability arising from the transaction. • Maintain account for the Customs Duty Liability. • Control receiving transactions until the Customs Type of taxes arising from the transaction are matched to the corresponding Bill of Entry. • Enables write-off of the disputed amount and amount that could not be applied fully to the transaction. In this Manual we will have a look at entire activities relating to Import Transaction.

Training Guide Bill of Entry

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Step Action

1. Enter PO Details for Import Supplier

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Training Guide Bill of Entry

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Step Action

2. Choose you Tax Category defined for Custom Duty

Training Guide Bill of Entry

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Step Action

3. After saving the record, enter the PO value in Foriegn currency in the first Line against Tax Amount field and then Press the button Apply.

or

Press [Alt+p].

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Training Guide Bill of Entry

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Step Action

4. All relavant taxes will be computed

Training Guide Bill of Entry

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Step Action

5. Double-click the ContinuousButton0 button.

6.

Press [Up].

7. Click the ContinuousButton0 button.

8.

Point to the Tax Name field.

9. Click the button.

10.

Enter the desired information into the Origin Country field. Enter a valid value e.g. "CHINA".

11. Navigate

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Step Action

12. Now we need to pay the duty on the arrival of material at Port. Navigate to India Localization BOE Invoice Screen. Enter the mandatory fields like BOE Type, Authority for whom payment is to be made, BOE Agent code and Org details. Additionally enter the details of Import dept references provided as well as Shipment info. Choose BOE Item independent flag, if you want to apply the BoE to any item. Else provide the item details inside.

Training Guide Bill of Entry

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Step Action

13. Enter the assessable value as per Bill of Entry and enter the Duty Rate. Oracle will calcuate the Duty Amount.

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Step Action

14. Similarly enter the Additonal Duty Rate.

Training Guide Bill of Entry

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Step Action

15. Enter the CVD Cess Rate Release the mouse button.

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Step Action

16. Enter the Secondary Higher CVD Cess rate. Release the mouse button.

17. Press [Tab].

Training Guide Bill of Entry

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Step Action

18. Enter the customs education cess rate.

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Training Guide Bill of Entry

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Step Action

19. Enter the Customs SH Cess Rate Release the mouse button.

Training Guide Bill of Entry

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Step Action

20. Enter the CVD Rate

21. On saving the record Total duty will be arrived.

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Step Action

22. Double-click the Internet Explorer Main Window window.

Training Guide Bill of Entry

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Step Action

23. Note that from View request, System Automatically Generates Invoice for custom duty payment. Note the Details from Duty Payment.

or

Press [Alt+i].

24. Query the I Release the mouse button.

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Step Action

25. Query the Invoice on the Invoice Screen. Click the EwtLWScrollbar scrollbar.

26. Click the Final Post option.

Training Guide Bill of Entry

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Step Action

27. Create and post the Invoice. Accounting and posting to GL will be done.

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Step Action

28. View the Accounting Entries created for this transaction.

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Step Action

29. Press [Ctrl+S].

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Step Action

30. Make Payment for this transaction.

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Step Action

31. Double-click the desired entry in the list.

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Step Action

32. Now we need to receive the material at Stores. Prepare GRN for the import Order.

Training Guide Bill of Entry

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Step Action

33. Now we need to receive the material at Stores. Prepare GRN for the import Order.

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Step Action

34. Note that Taxes as per PO defaulted.

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Step Action

35. Assessable Value can be different as per bill of entry. Hence enter the assessable unit value here and press Apply. All duties will be recalculated based on the assessable value.

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Step Action

36. Apply BoE Button enable us to apply the Custom Duty to the Materials. Enter the Duty to be applied against the 'To Apply' Column and Save the record.

Training Guide Bill of Entry

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Step Action

37. On saving the record, the system will generate the Accounting for receipt taxes.

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Step Action

38. Note the accounting entry created. Receiving Inventory Account is debited and Bill of Entry Account is credited.

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Step Action

39. For claiming Cenvat Navigate to Claim Cenvat Form. Enter the receipt Number to find the receipt Number.

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Step Action

40. Note the eligible Cenvat Amount on this Receipt Transaction.

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Step Action

41. Click the Claim CENVAT option.

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Step Action

42. Enter the reference for Excise Invoice Number and Excise Invoice Date. Check the Claim Cenvat FLAG and Press the Claim Modvat Flag to claim the CVD.

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Step Action

43. Note the accounting entries created for Cenvat. Input Registers ( Duty / Cess / SH Cess ) are debited and Receiving Inventory is credited.

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Step Action

44. Note the accounting entries created for Non - Recoverable Taxes.

45. End of Procedure.