dear sir we r not covered with excise . but we purchase raw material with excise bill . then how can i treat this excise amount .
dear sir we r not covered with excise . but we purchase raw material with excise bill . then how can i treat this excise amount .
Nothing to do.. If u are saying that u are not liable to pay duty then u cannot take credit of excise duty paid.. So this duty will now form part of your cost of production.. Just debit the raw material with full price including excise duty..
I agree with Mr.Ashish.....
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