Passing of excise entires
This query is : Open
06 February 2012
please tell me the accounting entries to be passed for excise duty in case of manufacturing of iron & steel goods by a pvt ltd co.
06 February 2012
1. Customer A/c dr.
Excise duty payable A/c cr.
Sales A/c cr.
2. excise duty payable A/c dr.
Input/Input services/Capital Goods Cenvat Credit receivable A/c cr.
Cash A/c/PLA A/c
Excise duty payable A/c cr.
Sales A/c cr.
2. excise duty payable A/c dr.
Input/Input services/Capital Goods Cenvat Credit receivable A/c cr.
Cash A/c/PLA A/c
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