Bill of Entry (BOE)

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. This
document details the goods imported in the consignment and the amount of Customs
Duty liability for each commodity included in the consignment. Bill of Entry in Oracle
Financials for India 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 thefollowing 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. Bill of Entry (BOE)
You must use this feature to capture the information required for the Bill of Entry report
to be submitted to the Customs Authority.
While creating a Bill of Entry, you can now enter the Additional CVD percentage. This
percentage is applied on the Total of all preceding taxes.
Calculation of Customs Duty
This feature helps you in calculation of the Customs Duty, Additional Duty and
Surcharge based on the Assessable price entered for the transaction.
Creation of AP Invoice
An Approved AP Invoice would be automatically created for the Customs Authority
with the Total Customs Duty liability arising from the transaction.
Control over Receipt Transactions
For the goods receipts that are created through India Local Receipts screen, which have
Customs Duty of Tax, attached to it, a control would be placed, where you cannot quit
the form until an appropriate BOE is attached to the receipt line. This would set-off the
Customs liability arising from the transaction.
BOE Amount Write-Off
You have a facility to write off the Un-applied BOE amount in a BOE Invoice which no
longer to be applied against any Receipts. If the Customs Duty paid need to be written
3-4 Oracle Financials for India User's Guide
off for any reasons, you can make use of this functionality. For example, the Customs
Duty is paid through a BOE Invoice and during transit of goods from the port to the
Organization; the duty paid goods were lost in transit. In such cases, the duty paid on
such goods cannot be applied to the inventory receipt transaction and the duty paid
need to be Written Off.