21 January 2013
The form RG23A is Actually RG23A- Part-I and Part-II and it was required to be maintained by the Central Excise Duty payers. All raw material received is credited RG23a Part-I and issue for production is debited, this is stock register of excisable raw material. RG23A Part-II is the register for Cenvat Credit. Cenvat credit on all raw material is taken in part - II and duty from cenvat credit account is debited. RG23C Part-I is register of capital goods and RG23C Part-II is register of cenvat credit on capital goods.
PLA a/c is Personal Ledger account, through which we pass the entries of excise duty paid. the entry should be i)Excise duty payable a/c Dr To Input cenvat credit a/c To PLA a/c
ii) PLA a/c Dr. To bank a/c During Audit we generally ensure the correct recording of sales and purchase invoices and ensure the correct availment of ITC.
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