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journal enty-PLA ??

This query is : Resolved 
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(Querist)
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
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U S Sharma

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U S Sharma (Expert)
16 July 2011 yes very much correct

to avoid complication, make PLA, alloacted in asset under "advances"
it will not generate prob in furure
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