journal enty-PLA ??
This query is : Resolved
16 July 2011
hello everyone,
i have doubt regarding passing of journal entry in case of excise duty.
what i understood from my friend is as under.
on 01/04/2011 the co. has paid Rs.100000/- as PLA.
PLA dr-100000
to bank-100000
suppose: excise payble for the month comes to Rs.200000 & cenvat credit available is Rs.50000
excise payble dr-200000
to PLA-100000
to bank-50000
to cenvat receivable-50000
are above entry correct.
waiting urgenlty for your reply.
abhipcc@rediffmail.com
i have doubt regarding passing of journal entry in case of excise duty.
what i understood from my friend is as under.
on 01/04/2011 the co. has paid Rs.100000/- as PLA.
PLA dr-100000
to bank-100000
suppose: excise payble for the month comes to Rs.200000 & cenvat credit available is Rs.50000
excise payble dr-200000
to PLA-100000
to bank-50000
to cenvat receivable-50000
are above entry correct.
waiting urgenlty for your reply.
abhipcc@rediffmail.com
16 July 2011
yes very much correct
to avoid complication, make PLA, alloacted in asset under "advances"
it will not generate prob in furure
to avoid complication, make PLA, alloacted in asset under "advances"
it will not generate prob in furure
Message likes :
1 times
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Putting a heading on received mail
- Reprocessing of rectification order AY 2025-26
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regarding Applicability of Tax Audit u/s 44AB
- Consolidated financials
- Regime change
- Goods sold but invoice not issued
- 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
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
