Excise treatment
This query is : Resolved
22 September 2011
Hi Expert can u give clarity regarding following doubt:
AS 2 and Guidance not says that Excise on manufacturing should be treated as manufacturing Expense and also it Provision for non- removed Goods made:
My question is that how can be it treated as an expense when you are passing the burden of Excise to the Customer of that company.?
AS 2 and Guidance not says that Excise on manufacturing should be treated as manufacturing Expense and also it Provision for non- removed Goods made:
My question is that how can be it treated as an expense when you are passing the burden of Excise to the Customer of that company.?
23 September 2011
Sir, read the para 18-20 of the Guidance Note on Accounting Treatment for Excise Duty with AS 2 valuation of Inventory where former says to create provision mandatory for excise duty liability and later to include such duty to value of inventory.
So where is the Doubt.?
Regards,
CS Sumat Singhal
So where is the Doubt.?
Regards,
CS Sumat Singhal
24 September 2011
Bt my question is where Excise is nt at al our expense as we are passing the burden of the same to the consumer ... How can be it is part ofExpense as sugggested by Guidence Note of the ICAI...?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Confusion around Form 26QB fields
- Sale of property furniture sale
- Applicability of Ind As to associate of associate
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
