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Treatment of excise on closing stock

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08 September 2012 PLEASE GIVE A EXAMPLE OF TREATMENT OF EXCISE LEVIED ON CLOSING STOCK E.G. STOCK AS ON 31.03.12 IS 200000(NET OF EXCISE) WHERE WILL EXCISE CHARGED SUPPOSE 20600 REFLECT IN FINALIZATION
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Surrender

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Surrender (Expert)
09 September 2012 Closing stock being valued at net of Excise, Excise incurred thereon, would be accountable against payment of Excise on your finished product as & when it is cleared for sale;
On 31.03.2012, Excise may remain as a current asset out of gross paid cost of stock !
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