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Excise entry in rg 23 d register

VISHAL GUPTA (MBA-Finance) (145 Points)

25 March 2014

Sir, I want to know that If i purchase (Invoice No. 54 dt. 7/2/2014 1000 kg ) material from 1st stage dealer & sold to verious party on 12/2/2014, 13/2/2014 & 15/2/2014. After sale my closing stock is 25kg on 15/2/2014. Now i want to know that when i prepare my next invoice then should i sale my closing stock of Inv. No.54 first or can i sale stock from my next purchase invoice i..e Inv. No. 59 dt. 12/2/2014 1500 kg.

I also want to know that how to enter in RG 23 D Register , first in first out basis or not? if my party want stock from my next lot & i have already balance stock in my prevoius lot then how can i enter in my RG 23 D register . Please suggest me i am new in Excise matter

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2 Replies

Harendra Kumar (Tax Advisor ) (1326 Points)
Replied 26 March 2014

Sir,

It is very simple first you maintained the RG-23-D register maintained by the Dealer

In the said register two side first (Left hand) mention the Invoice which are used for the purchase. All information mentioned stepwise i.e date of invoice, invoice no. qty. particulars amount, if other information required.

Secondly in the right hand page mention which invoices are issued same Bill of Entry or Purchase Invoices same information mention on the invoices.

And calculated day by day as per you convene and finds out the closing balance and amount.

If you’re further query in this regard plz forward the same.

VISHAL GUPTA (MBA-Finance) (145 Points)
Replied 26 March 2014

Thanks Harendra ji for reply, I also want to know that how to enter in RG 23 D Register , first in first out basis or not? if my party want stock from my next lot & i have already balance stock in my prevoius lot then how can i enter in my RG 23 D register .

Is it to be maintain Sale Bill Sr. No. wise (Issue Part) or I first Enter purchase from RIL 1000 KG material (in purchase Side) & show balance qty & whenever i issue invoice against this stock that to be enter in second part (Issue Side) Is it first in & first out basis or can i issue material as customer require that mean from next purchase lot, pls suggest