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jatin nayyar

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10 March 2014 internal reconstruction ??

Anand Dad

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10 March 2014 Personal ledger Account is an account with the Central Government, which is utilized for payment of duty of excise. The account is credited when the sum is deposited into the treasury and debited on payment of excise duty. Each debit and credit entry should be made on separate lines and assigned a running serial number for the financial year. The PLA must be prepared in triplicate by writing with an indelible pencil and using double sided carbon.Original and duplicate copies of PLA shall be sent to the Central Excise Officer in chargealong with the monthly/quarterly return.
The assessee may make credit in the PLA by making cash payment into the treasury or authorised bank through TR-6 challan. Copy of each such challan shall be sent by the assessee to the Central Excise Officer along with the monthly/quarterly return.
No restrictions exist with regard to any minimum amount, which should necessarily remain in balance to the credit of an assessee in his PLA. With the monthly payment system, there should be enough credit at the time of payment of duty for the month.
Mutilations or erasures of entries once made in the PLA are not allowed. If any correction becomes necessary, the original entry should be scored out and attested by the assessee or his authorized agent.

Anand Dad

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10 March 2014 https://www.icaiknowledgegateway.org/icaikms/littledms/folder1/chapter-5-internal-reconstruction.pdf

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