PAID IN PLA.
This query is : Resolved
07 January 2010
Dear Sir,
We have two Units. All are Registered with Excise. Last month we have deposit 50,00.00 from Unit-I towards Excise duty in PLA vide Axis Bank.But that amount should be deposit from Unit-ii.
Now what is the solution for that?
Kindly inform me immediately
Thanks and regards,
Ritu
We have two Units. All are Registered with Excise. Last month we have deposit 50,00.00 from Unit-I towards Excise duty in PLA vide Axis Bank.But that amount should be deposit from Unit-ii.
Now what is the solution for that?
Kindly inform me immediately
Thanks and regards,
Ritu
07 January 2010
The moot point is since the PLA credits do not go waste or the credit is available at any time, and in case of unit is claosed or transferred then such credit would also be transferred, since in this case as said by you instead of from Unit II the duty has been deposited from Unit I then in that case the amount cannot be withdrawn or transferred unless otherwise than those stated above, but a sepertate amount be deposited from Unit II as even if it is wrongly credited the same would not go waste as even if not utilised the same may be refunded, at the time of winding up or liquidation or transfer or amalgamation.
A letter to that effect may be written to the relevent Central excise authority relevent to the unit jurisdiction who would be confirming whether the same is acutally so and then the same would be allowed to be transferred, as an compensating error, but in this process the valuable time would be lost.
In my opinion the best option would be deposit a seperate amount from Unit II till the inadvertant amount would be transferred from Unit I to II
In case of any further clarification do write to us
A letter to that effect may be written to the relevent Central excise authority relevent to the unit jurisdiction who would be confirming whether the same is acutally so and then the same would be allowed to be transferred, as an compensating error, but in this process the valuable time would be lost.
In my opinion the best option would be deposit a seperate amount from Unit II till the inadvertant amount would be transferred from Unit I to II
In case of any further clarification do write to us
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Accounting treatment of AMC alongwith the purchase of Laptop
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- 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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
