A small scale unit buys duty paid MS tubes from the manufacturers. It cuts them and puts them in swaging machines in which dies are fitted which imparts "folds" to the flat surface of the MS tubes. Is the process of swaging undertaken by the small scale unit amounts to 'manufacture' under Central Excise Act, 1944?
form er 5
According to mine knowledge, Manufacture did by any one SSI or LSI, it must be considered as manufacture in both cases SSI and LSI.
Good Morning Sir,
What is the accounting treatment of Excise Duty on Closing Stock and the provisions relating to it to be shown in the Balance sheet?
Please show the journal entry to be passed in the books of accounts.
Thanks.
V.K. Ranjan & Co(Chartered Accountants)
New Delhi
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