Accounting for Excise Duty
This query is : Resolved
01 July 2008
For the Last Financial Year 2006 - 2007In our comapny we expensed cenavat poration as purchase cost ( Excie Duty + Education Cess ) but as per Excise records Cenvat Credit Taken .so my query is how do i reconcile cenvat with Accounts & Excise records
CA. Yayati Tyagi
(Expert)
01 July 2008
you can take credit through a single entry for opening balance and credit purchases a/c with this amount.
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