Excise duty on closing stock

excise duty is included in the Closing Stock

For the purpose of Revised schedule VI (even in schedule VI) you should show closing stocks with the value inclusive of Excise duty.

And for the purpose of Tax audit (refer section 145A of income tax act) this Excise duty inclusive/ Exclusive things are done just to prove that even if we add Duties and taxes in our stocks, it will not have any impact in our profit as per Income tax act.