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Excise refund entries

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 October 2012 Dear Experts,

Please guide me to the folloiwng

My client has made export sales on which he charged excise duty incl. EC & SHEC.


Later he has got the refund
The rebate included the following
1) cash (a portion of Excise)
2) remaining was adjustment towards cenvat credit.

What shall be the accounting entry for the above mentioned Transactions?
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CA Pooja Agarwal

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CA Pooja Agarwal (Expert)
10 October 2012 cash a/c..dr
input(ED) tax a/c ..dr
to p/l a/c

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