08 July 2008
Excise duty is to be paid on the finished goods produced. Excise duty is collected through sales invoices from the Customer & we have to make the excise duty payable provision on the closing stock of finished goods.
08 July 2008
Exise duty is payable at the time of dischage of goods from factory or godown or for captive use the provision are not only applicable on finished goods but also on raw materials (except some cases like when goods will come back within 180 days from discharging from factory or godown).
CAclubindia
