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All about Excise

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(Querist)
20 September 2009 Pls let me know the stages where the excise is calculated and the accounting entries at that level(Goods receipts,Stock Transfer etc). Also brief me about the registers (RG23A,C etc)require and its importance.
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CH.LN.Sastry,MCom, LLB, M.Phil

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CH.LN.Sastry,MCom, LLB, M.Phil (Expert)
21 September 2009 your question is not at all clear.
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Ankur Garg

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Ankur Garg (Expert)
21 September 2009 PLEASE ELABORATE A BIT. THANKS
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Noorul

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Noorul (Querist)
21 September 2009 I would like to know when the excise is captured and the accounting entries related to it.
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CH.LN.Sastry,MCom, LLB, M.Phil

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CH.LN.Sastry,MCom, LLB, M.Phil (Expert)
22 September 2009 If you procure the goods on payment of duty you can take cenvat credit after receipt of the goods. you have to pay excise duty when you clear the goods.

RG-1 for Daily Stock A/c (production)
RG 23A Part-1 (Input stocks)
RG 23C Part-1 (Capital Goods)
RG 23A Part-II (inputs cenvat A/c)
RG 23C Part-II (CG Cenvat A/c)
PLA
Job Work Register (if any job work)
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