Hello All,
We are traders, we purchase material say 400 kgs from ABC (in which excise amount was Rs. 5000/-) and sold 200 kgs to XYZ, but while preparing sales invoice we pass on whole excise amount i.e. Rs. 5000/- instead of Rs. 2500/- . We got payment from the party.
How can I adjust this excise amount while selling remaining 200 kgs?
Please help me to solve this query at the earliest.
Thanks in advance
Smruti
If u have deposited the excess Excise Duty U can lodge refund claim from excise authorties.If Excise duty has not been deposited with the intimation to excise authorities fresh invoice with correct amount of excise duty can be issued after cancelling the wrong invoice .
Abic and Mani Chartered Accountants
Kottayam
B.Com
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CCI
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CAclubindia
