Export under rule 18

Save Share

This query is : Resolved

CA Sanjana arora (Querist)
Follow

22 June 2013 we have exported some items and paid excise duty on them under rebate claim..so what should be the accounting treatment of excise duty paid can i use it as cenvat credit or not.

CA Abhishek Malpani

CA Abhishek Malpani (Expert)
Follow

22 June 2013 As you will avail the rebate, you can not take the cenvat credit for the same.

Accounting treatment:

1. At the time of export:

Party A/c....Dr
To Sales
To Excise duty

2. Transfer excise duty to excise duty receivable under rebate

Excise duty receivable under rebate A/c..Dr
To Excise duty

2. At the time of rebate received from the department

Bank A/c...Dr
To Excise duty receivable under rebate

CA Sanjana arora

CA Sanjana arora (Querist)
Follow

22 June 2013 thanks a lot.......

CA Sanjana arora

CA Sanjana arora (Querist)
Follow

22 June 2013 i have a query that how can i debit the party with excise duty amount because party is not liable to it..it is refundable by deptt.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now