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dishant Bhatt (CA FINAL STUDENT) (158 Points)

06 October 2009

WHO IS REQUIRED TO MAINTAIN PLA(PERSONAL LEDGER ACCOUNT)?

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Hariprasad (CA Finalist) (24 Points)
Replied 06 October 2009

Hey here is the answer !

Every Manufacturer who is required to pay Excise Duty should maintain PLA. The PLA is a running account through which the manufacurer can avail the cenvat credit on inputs, pay shortfall if any or carry forward the surplus if any. In order to open a new PLA the manufacturer should first obtain a new ECC number from CE Dept. PLA is credited when duty is deposited in Bank by GAR-7 challan. PLA is debited when duty is required to be paid. It cannot be used for paying Fines or penalties. PLA must be prepared in triplicate by writing in pencil and using double sided carbon Original. Duplicate copies of the PLA should be detached by the manufacturer and sent to the CE officer in charge along with the monthly/quarterly periodical return in form ER 1 or ER 3.

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