answersLogoWhite

0

I was look for the answer to this very same question! And I found it:

"Customs duty comes in two types: Import Duty & Export Duty. Duty paid on goods imported from Abroad is known as Import Duty and is debited to the Trading A/c but Duty paid on goods exported expense connected with sales, is debited to profit and loss account, so import duty on goods purchased from abroad is a direct expense and export duty on goods sold is indirect expense."

User Avatar

Wiki User

16y ago

What else can I help you with?