what are the accounting entries to be done for excise duty (including the provision entry as per the guidance note issued by ICAI)?
Menu
Accounting of excise
Replies (1)
Hello Kanhu,
The accounting required to be passed is,
Goods A/c Dr
Cenvat A/c Dr
Edu Cess A/c Dr
High Edu Cess A/c Dr
To party a/c cr
& if the goods are capital goods we will book the cenvat by full amount and in year end we will pass a defferment entry by Debiting Defferment of Cenvat & credit Cenvat a/c.
Recent Topics :
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
Related Topics :
CAclubindia
