Our company is new to exsie duty.
My question is that, how can i find exsise duty payable?
We have an opening stock excise duty of Rs- 94211/-
Closing stock excise duty of Rs- 91541/-
Excise duty paid on purchase - 80600/-
and duty collected on sales - 145126/-
Mr Vishnu
1.How u get the closing excise duty for Rs.91541.00.
2.The calculation is : Opening Duty+Cenvat Taken at the time of purchase- Utlised against the duty realised from sale proceed=Closing Cenvat Credit.
Dear Mr Vishnu,
Opening Balance + Credit taken during the month - utilised for duty payable for the month = closing balance.
Regards,
RP Ananthakumar
Dear Vishnu
Cenvat Opening: 94,211/-
(+) Excise Duty Paid on Purchase: 80,600/-
Total CENVAT Available: 1,74,811/-
(-) Duty collection on Sales 1,45,126/-
Closing CENVAT Available 29,685/-
CAclubindia
