Excise rebat Claim
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 March 2011
What is the accounting treatment of excise rebat claim refund.
Can it be treated as income
Can it be treated as income
16 May 2011
if the duty paid at the time of clearence is claimed as expenditure, then the rebate claim whould be "indirect income"
if the duty a/c is in asset and P/L is not effected except the excess duty paid, then at the time of clearence asset would change hand from duty a/c to rebate a/c and at the time of realization rebate a/c will get nil.
if the duty a/c is in asset and P/L is not effected except the excess duty paid, then at the time of clearence asset would change hand from duty a/c to rebate a/c and at the time of realization rebate a/c will get nil.
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