Journal Entry of Excise
This query is : Resolved
24 August 2009
Please any one guide me about Journal Entry of Excise and CENVAT with example and value
24 August 2009
Please be specific...
24 August 2009
Means do you ned on pur or sale ??
26 August 2009
If it is on sales, Excise duty Payable shall be credited and Debtor account shall be debited.
simillary in case of purchases cenvat account shall be debit and supplier account shall be credited.
at the end of month you have to see whether there is any payable of sufficient cenvat credit.
Purchase entry
Cenvat account dr 100
To Supplier 100
Sale entry
Debtor a/c Dr 135
To Excise duty payable 135
Now you see 35/- is excess in payable acount so you have to diposit the same and Excise duty payable must Nil balance at the end of month.
Excise duty discharge entry
Excise duty Pyable Dr 135
To Cenvat account 100
To PLA acount 35
hope it is clear to you.
simillary in case of purchases cenvat account shall be debit and supplier account shall be credited.
at the end of month you have to see whether there is any payable of sufficient cenvat credit.
Purchase entry
Cenvat account dr 100
To Supplier 100
Sale entry
Debtor a/c Dr 135
To Excise duty payable 135
Now you see 35/- is excess in payable acount so you have to diposit the same and Excise duty payable must Nil balance at the end of month.
Excise duty discharge entry
Excise duty Pyable Dr 135
To Cenvat account 100
To PLA acount 35
hope it is clear to you.
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- TDS Deducted AY-2013-14 Not Reflected in 26as
- ADVANCE PAYMENT OF ADVOCATE
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Eway bill generation from place other than registeted
- Goods sold but invoice not issued
- GST rate and HSN code for sale of racing horses
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
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
