Excise
This query is : Resolved
03 January 2011
What is the Accounting Treatment of Modvat
03 January 2011
Assuming that you are going to avail excise duty credit on purchases, the cenvat credit should be booked under cenvat received account. It should be current asset and will not form part of purchase cost.
For example. You have made a purchase of Rs. 100 and Ex. duty is Rs.16. The total amount is Rs.116.
The purchase entry should be
Dr. Purchase Account Rs.100
Dr. Centvat received Rs 16
Cr Party's account Rs 116
For example. You have made a purchase of Rs. 100 and Ex. duty is Rs.16. The total amount is Rs.116.
The purchase entry should be
Dr. Purchase Account Rs.100
Dr. Centvat received Rs 16
Cr Party's account Rs 116
03 January 2011
how to credit cenvat?
04 January 2011
Duty Paybale (on Sale) dr
Duty received(RG23A Part-II) Cr
RG23c Part-II Cr
PLA CR
Service Tax Cr
(Being amt of duty payable paid)
Duty received(RG23A Part-II) Cr
RG23c Part-II Cr
PLA CR
Service Tax Cr
(Being amt of duty payable paid)
31 January 2011
DEAR SIR
WHAT IS THE PROCESS OF ADDITIONAL OR CHANGE THE GODOWN ADDRESS IN EXCISE ACT
REPLY SOON
THANKS
DEEPAK
WHAT IS THE PROCESS OF ADDITIONAL OR CHANGE THE GODOWN ADDRESS IN EXCISE ACT
REPLY SOON
THANKS
DEEPAK
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Grand in aid
- Gst on travel by air for business purposes
- ASMT-10 received from A O
- IT returns for fresh job holders
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Reporting in TDS return
- CLOSING STOCK QUERY
- F&O reporting in ITR
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
