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Journal entries

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(Querist)
10 February 2014 Dear sir,

Can any one explain me how to pass journal entries for cenvat credit under excise dealer invoice ?
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GN Patankar

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GN Patankar (Expert)
10 February 2014 plz assume,Net Bill Amt is 1000/-+Vat 50/- = 1050/-inclusive of CENVAT Rs 100/- than

Purchase A/c Dr 850/-
Cenvat receivable A/c Dr 100/-
Input Vat a/c Dr 50/-

To Party's account Cr 1000/-

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