Dear all,
Ours is a newly incorporated Manufacturing unit under Trial runs. The industry type is construction material with the finished product light weight aerated bricks.
Whether the above product attracts excise duty.
Thanks & Regards
Mallikarjun
Plz check the Central Excise Tariff Act 1985
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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