Treatment of cenvat credit receivable account
This query is : Resolved
29 July 2011
Please explain the accounting treatment of cenvat credit receivable account on purchases made by an enterprise.
05 August 2011
purchase a/c dr
Excise duty (credit) a/c dr
Education cess ( credit) a/c dr
Vat a/c dr
to
Supplier a/c cr .................
here
Excise duty / Education Cess/ Vat ......all ledgers are "Asset ledgers".
Excise duty (credit) a/c dr
Education cess ( credit) a/c dr
Vat a/c dr
to
Supplier a/c cr .................
here
Excise duty / Education Cess/ Vat ......all ledgers are "Asset ledgers".
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