Accounting entry

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In a trader's books of accounts, how should I account for excise duty on goods purchased? I need full entry.

P.S. trader is not passing over his CENVAT

Replies (1)

If CENVAT Credit is not utilised then show it as cost...

 

Purchases A/c (including Excise) Dr     .........

      To Bank/Creditor A/c                                .............

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