Excise setoff from 2nd stage dealer
This query is : Resolved
10 January 2014
my client has received Invoice from 2nd stage dealer
100 units Rs 10 p.u 1000
Add: Vat 4% 40
Total Bill Amount 1040
Note has indicated of on that bill of excise credit available to my client
So, Can my client take Excise credit in this case if Yes then what accounting entry should we have to pass
100 units Rs 10 p.u 1000
Add: Vat 4% 40
Total Bill Amount 1040
Note has indicated of on that bill of excise credit available to my client
So, Can my client take Excise credit in this case if Yes then what accounting entry should we have to pass
14 January 2014
Yes, Cenvat Credit can can be booked if the invoice has been issued by a registered second stage dealer, and the invoice mentions the amount of Excise duty included in the total amount.
The following entry to be passed -
Purchases A/c Dr. xxxx
CCR A/c Dr. xx
To Party A/c xxxx
The following entry to be passed -
Purchases A/c Dr. xxxx
CCR A/c Dr. xx
To Party A/c xxxx
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Plot of land. Cost of Acquisition
- Specified Profession
- GST ON DAMAGED GOODS
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
