Accounting Treatment of Excise Duty

purchase

purchase a/c debit ..............................20 crore

Cenvat credit a/c debit ........................1.6 crore

Bank / Sundry Creditors..credit  ...................................21.6 crore

Sales 

Bank / Sundry Debtors a/c debit .........................38.88 Crores

Sales A/c .....credit ..........................................................................36.0 Crores

Cenvat Credit A/c credit ........................(1.6 cr - 3.2 Lacs) .........1.568 crores

Excise duty (cash Paid) Credit ...........(2.88 cr-1.568 Cr)...........1.312 crores

now the closing stock will hold 3.2 Lacs Cenvat credit out of total purchase credit