duty passed on
This query is : Resolved
25 July 2009
Dear All,
Kindly tell me whehter our client who is registered as the first stage dealer are required to pass any accounting entry on the
amount of excise duty passed on by them ?
They are just recording the cenvat paid on the amount of the purchase in the purchase account and no entry nin the books for the passed on amount they just have the track of the amount passed on on papers and in the excise returns pls tell me whether the current status of accounts is proper or any accounting effect is needed to be given ??
Kindly tell me whehter our client who is registered as the first stage dealer are required to pass any accounting entry on the
amount of excise duty passed on by them ?
They are just recording the cenvat paid on the amount of the purchase in the purchase account and no entry nin the books for the passed on amount they just have the track of the amount passed on on papers and in the excise returns pls tell me whether the current status of accounts is proper or any accounting effect is needed to be given ??
Vishnu Saboo
(Expert)
25 July 2009
it would be better if entry is made in books.
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