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Treatment of excise duty on op & closing stock.

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(Querist)
24 May 2012 Sir,

Can anyone explain me the treatement of excise duty in opening and closing stock with excise duty expenses?
I want to further know whether excise duty on closing stock will be treated as exp in P & L or Liability in B/s.
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Siju Joseph

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Siju Joseph (Expert)
24 May 2012 Is your co. is registered with Excise?

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