Excise tax's treatment in books of account

arun (ca student) (194 Points)

03 July 2008  

Is the excise paid during the year is shown as expense in p&l a/c. for eg.


Excise output= 30000


input= 10000


paid= 20000


Is this paid amount  Rs 20000 is expense bcose sales is shown including excise tax as well as purchase also shown at inclusive excise.