Export under rule 18

This query is : Resolved

CA Sanjana arora (Querist)
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22 June 2013 we have exported some items and paid excise duty on them under rebate claim..so what should be the accounting treatment of excise duty paid can i use it as cenvat credit or not.

CA Abhishek Malpani

CA Abhishek Malpani (Expert)
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22 June 2013 As you will avail the rebate, you can not take the cenvat credit for the same.

Accounting treatment:

1. At the time of export:

Party A/c....Dr
To Sales
To Excise duty

2. Transfer excise duty to excise duty receivable under rebate

Excise duty receivable under rebate A/c..Dr
To Excise duty

2. At the time of rebate received from the department

Bank A/c...Dr
To Excise duty receivable under rebate

CA Sanjana arora

CA Sanjana arora (Querist)
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22 June 2013 thanks a lot.......

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CA Sanjana arora

CA Sanjana arora (Querist)
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22 June 2013 i have a query that how can i debit the party with excise duty amount because party is not liable to it..it is refundable by deptt.