Can anybody explain me what is PLA register & what is it contains?
Rakshit
(practising)
(338 Points)
Replied 25 January 2013
PLA stands for Personal Ledger Account in which particulars of deposit of excise duty in Bank through GAR-7 challan are made. It is also called Account Current.
Raksh*t
Mob:9810525780
CA ANKUSH AGGARWAL
(CHARTERED ACCOUNTANT)
(2782 Points)
Replied 30 January 2013
Whatever liability of excise becomes payable it is adjusted from PLA register.Balance lying in PLA can be carried forward to next period.
Anusha Kondapani
(SAP Business ByDesign Consultant)
(624 Points)
Replied 01 February 2013
Yes its an account current through assessee pays Duty to government and its credited when duty is liable to pay, debited when duty is dischrged either by payment or CENVAT credit. Here only excise payments are adjusted and its not for any other payments.
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