Excise refund entries
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 October 2012
Dear Experts,
Please guide me to the folloiwng
My client has made export sales on which he charged excise duty incl. EC & SHEC.
Later he has got the refund
The rebate included the following
1) cash (a portion of Excise)
2) remaining was adjustment towards cenvat credit.
What shall be the accounting entry for the above mentioned Transactions?
Please guide me to the folloiwng
My client has made export sales on which he charged excise duty incl. EC & SHEC.
Later he has got the refund
The rebate included the following
1) cash (a portion of Excise)
2) remaining was adjustment towards cenvat credit.
What shall be the accounting entry for the above mentioned Transactions?
10 October 2012
cash a/c..dr
input(ED) tax a/c ..dr
to p/l a/c
input(ED) tax a/c ..dr
to p/l a/c
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