Exise Duty

What are the accounting entries to be done for Exise duty on Capital goods

Replies (2)

I First Year

Fixed Assets A/c Dr 

Cenvat on Capt Goods BED Dr (50%) 

Cenvat on Capt Goods ECS Dr (50%)

Cenvat on Capt Goods HECS Dr (50%)

Cenvat on Hold (50% of BED+ECS+HECS)

To  vendor 

 

IInd Year

 

Cenvat on Capt Goods BED Dr (50%) 

Cenvat on Capt Goods ECS Dr (50%)

Cenvat on Capt Goods HECS Dr (50%)

To Cenvat on Hold (50% of BED+ECS+HECS)

 

 

our sales is 14700000 ,fire wood is Rs. 3000000 & rest wooden crate .we need to Central Excise Registration or declaration

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