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Excise

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26 June 2012 Sir, I just want to ask the question about taking the Excise Credit. There is difference in taking the credit & booking of Exciseable purchase. Credit is taken in F.Y.2010-11 & material is received in the same year only, but corresponding commercial bill is booked in the next F.Y.11-12. Suggest what Accounting treatment should be given in Excise & Accounting Records.
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Ram Avtar Singh

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Ram Avtar Singh (Expert)
26 June 2012 as per excise rule when material received it will Booked emmediatly in the books of account.
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