Excise on stock transfer

Hi 

I am a manufacturer of sweets and only ONE of our products from a portfolio of 100 products comes under excise. Now when i send this particular product to my store from my factory (place of manufacture) i plan to transfer it via the stock transfer route. My question is how do i account for this excise in my books. Can someone help me with the exact accouting entries. I cant raise an excise invoice at the shop level as only one product is under excise. Hence advise the safest procedure to be adopted. Thanks !!

 

 

Replies (1)

You issue invoice at the place of manufacture and pay excise duty at 110% of the cost of production or pay differential duty between the valu at which goods are sold at shop.

 

Raksh*t

advrcverma @ gmail.com

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