banner_ad

Purchase from fsd & ssd

This query is : Open 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
08 April 2015 Dear experts,

If a manufacturing co has purchased from FSD/SSD with excise. then for CENVAT how will it pass the entry in tally.

e.g. Purchase value - 10000
VAT @5% - 500
total - 10500

now since supplier is FSD so it pass the excise duty also for say Rs. 1200., then question is that how journal entry will be passed for Rs. 1200 CENVAT. here see as below:-

Local purchase Dr 10000
VAT Input Dr. 500
To supplier 10500

then how will be treatment for 1200 for cenvat through journal entry. if we show this as
Excise duty Dr. 1200
then purchase amount have to be lessed by 1200. is it correct way. Please give your own valuable suggestion.
Profile Image

CA Nimesh Maheshwari

Profile Image

CA Nimesh Maheshwari (Expert)
14 April 2015 Yes, you will have to debit the cenvat credit receivable on Input / Capital goods account, Edu Cess and SHE Cess credit receivable accounts (if applicable) and reduce the cost of purchases.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details