What are the Journal entries for Central Excise and CENVAT, please reply with an example?
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Central excise
Replies (1)
1. Purchase Raw material
RG23A BED A/C DR
RG23A ECS A/C DR
RG23A SHEC A/C DR
VENDOR A/C CR
2. Purchase Capital good
RG23C BED A/C DR
RG23C ECS A/C DR
RG23C SHEC A/C DR
VENDOR A/C CR
3. Sales Finished Product
RG1 BED Payable Cr
RG1 ECS Payable Cr
RG1 SHEC Payable Cr
Customer Dr
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