Pla account

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14 December 2013 Meaning of PLA & How to entry passed in tally

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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14 December 2013 PLA is basically used in excise to maintain the entries of cash(Cheque or e-payment) deposit and payment of duty from this amount throughout the year.if the input is less then payable duty then you have to deposit the balance amount in bank and put the entries in PLA register.

Personal Ledger Account (PLA) is an account through which Assessee pays duty to the Government. The PLA register is credited when the duty is liable to pay and when the Duty is discharged (by CENVAT Credit /Payment) the PLA register will be debited. The Duty Payable if any will be displayed as Balance. PLA and CENVAT Credit should be used only for payment of excise duty and not for any other payments like rent, fines, penalties etc.

Go to Gateway of Tally > Display > Statutory Reports > Excise Reports > Manufacturer > PLA Register

In Select Item screen

Select the Excise Unit – ABC Company from the List of Excise Units

Description of the fields in PLA Register

Particulars of Credit/Debit Document / Description of Documents With name of treasury Where necessary: This field displays the description of the documents (invoices)

Document No./ Date: This field displays the invoice (document) number and date of the invoice.

Central Excise Tariff Sub-heading Number: Displays the tariff classification number of the Stock item.

ECC no. of the Buyer: Displays the Excise Control Code of the buyer.

Basic Excise Duty: Displays the Credit, Debit and Balance duty amount.

Education Cess: Displays the Credit, Debit and Balance Education Cess amount.

Secondary Education Cess: Displays the Credit, Debit and Balance secondary Education Cess amount.

PLA Summary report, displays the details of advance Duty paid to the Government; advance adjusted towards Duty Payable; and the balance amount available in PLA for adjustment.

To view PLA Summary

Go to Gateway of Tally > Display > Statutory Reports > Excise Reports > Manufacturer > PLA Summary

In Select Item screen select the Excise Unit for which the PLA Summary to be viewed.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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14 December 2013 IN IEW OF ABOVE,

When any company or manufacturer buys his good from supplier, supplier has to get his money and excise duty on these goods. After its production, when manufacturer sells these goods to his customers and distributors, he will get his money and excise duty. On this received excised duty, he will get the power of
excise credit on his purchased goods under Cenvat Act. It means, he will deduct his total paid or payable excise duty from total received or receivable excise duty and balance, he will deposit in Govt. account. It is just same like VAT rules. Following are the main journal entries which are relating to excise or excise duty.

In the Books of Manufacturer

1. When we purchase goods with Excise duty on Purchase:-

Purchase Account Debit 1000

Excise Duty on Purchase Account Debit 200

Creditor Account Credit 1200

When we sell goods with Excise duty on Sale

Debtor Account Debit 1750

Sale Account Credit 1500

Excise Duty on Sale Credit 250

When Excise Duty Paid in Advance

Excise Duty in Advance Debit 20

Bank Account of Govt. Credit 20

Excess of Excise duty on sale over excise duty on purchase and excise duty in advance will be payable to Govt.

Excise Duty on Sale Account Debit 250

Excise Duty on Purchase Account Credit 200

Excise Duty in Advance Credit Rs. 20

* PLA Credit 30

When Excise duty is paid in Govt. Account

* PLA Debit 30

Bank Account of Govt. Credit 30

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Querist : Anonymous

Querist : Anonymous (Querist)

16 December 2013 thank u sir