Accounting entries in case of scrape trader
This query is : Resolved
hemlata p. soni
(Querist)
19 January 2015
my client deal in scrape trading. he purchase scrape & pay excise duty. now how can he make entry for this excise duty in accounts.how he prepare sales bill ?. whether he has to claim excise duty like service tax in his sales bill.
how to treat excise duty on purchase in account book.
pl give me urgent reply.
how to file excise return?
how to treat excise duty on purchase in account book.
pl give me urgent reply.
how to file excise return?
Arun Kumar Singh
(Expert)
21 January 2015
If process amounts to manufacture or production of goods then you need to registered with excise and pay duty otherwise no need to pay duty and you can't take credit. you should consult with any professional.
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