Menu
Excise duty
Hello. I want to know the treatment of ED at the time of BS i.e. ED to be added in FG or not, Prov for ED on FG and also treatment of ED on stock transfer from branch to HO. Please note no separate books of accounts are maintained.
Thank you.
Replies (1)
As per AS 2 and Guidance note of ICAI, having regard to available facts, ED is to be provided on FG. Reason being, ED is tax on manufacturing though is payment is defered till clearing. It means that ED liability has arisen on stock manufactured and kept in factory as on closing date.
Recent Threads
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
- Who is responcible to pay GST Liability (If Servi
- Excess Payment on RCM
- AOC4 auto population of previous year data
- Exports against INR PO payable by Domestic Company
- Which websites are best for government exam prepar
- TDS on maturity payment of LIC of india
- ITR2 Gold ETF short and long term
- Query under faceless assessment
Related Threads
CAclubindia
