Doubt on er1

This query is : Resolved

Roshan A (Querist)
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12 June 2012 In case of Capital goods,one has to avail and utilize 50-50% of excise in present FY and in next FY respectively.So while filling ER-1 should i put only 50% availed amount for Capital Goods??

If so,

Then what about the remaining 50% i am going to utilize next year?? Is it again shown in ER-1 of next year??

C.A Anshul Singhal

C.A Anshul Singhal (Expert)
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12 June 2012 Excise Duty on Capital good are take 50% current & remaining next financial year.
while filling ER-1 Excise Duty Avail on capital good are full shown & utilised 50% less Total of avail.
excise Duty on Capital good
opening ---------50000
current Year Avail---------200000
utilised current yaer -------- 150000(Rs 50000 last year+100000 rs current year)
balance closing ------- - 100000 Rs

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