25 July 2008
Hi im a PCC article and my present client is a manufacturin concern, can somone guide me on wat Excise duty is? how CENVAT credit is availed ?and what PLA is...........Tnks
25 July 2008
Excise duty is chargeable on manufacturing of any goods but it is payable at the time of removal of goods from the factory. Currenty rate of Excise duty is 14%.
CENVAT CREDIT is setoff of Excise duty paid aginst Excise duty payable.
PLA is Personal Leadger Account. The payment can be made through this acount in case there is excise duty payable even after getting CENVAT CREDIT.
CAclubindia
