12 June 2013
Suppose I have started a manufacturing business in May 2013. During the month I have made 3 purchase containing Excise Input (with Cess) of Rs.1000,Rs.3000 and Rs.3000. During the same month there are 3 Sales Bill consisting Excise output(with Cess) of Rs.2000, Rs,8000 and Rs.8000.I have paid the net liability (Rs.18000 – Rs.7000) of Rs.11,000 within 06th Jun’13 as I want to exhaust the input wholly and this is the first payment I have made towards Excise duty. Now my 1st question is when entering data in RG23A part II, I can enter the Bill wise details for fresh credit allowed but how can I put the bill details for debit entry as to exhaust the total Input of Rs.7,000 as there is no matching sales bill (Can I put the figure of Rs.7000 in debit not mentioning the bill?). My 2nd question is when preparing the PLA for the month of May’2013 can I show the payment made in month of Jun’13 otherwise it will show negative balance in PLA. Seeking information in this regard and it would be better if anybody can draw Excel worksheet for RG23A partII and PLA for May’13 with the figure of above example. Thnx to all
12 June 2013
It maybe preferable to refer to a good procedures book. Rg23 A part-II has been omitted for more than 1 decade. However the records to be maintained should be able to arrive at the liability, credit set off and when paid.
CAclubindia
