Exsise duty payable calculation

553 views 3 replies

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/-

Replies (3)

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/-

Total Excise duty will be paid by utilising the CENVAT credit. You need not to pay any amount through PLA.

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