Dear All Members
Please explain me the What is Mean By Arithmatic Reconciliation of Excise And What are the types Reconciliation in Excise ,
Thanks
Yashodhan
1 Replies
SAMAR JEET SINGH
(CA)
(72 Points)
Replied 24 February 2011
EXCISE RECONCILIATION
· (1) Reconciliation of the excise credit availed, utilized and closing balance thereof with the excise records (RG-23A part-2, ER-1 etc.) and subsequent treatment of the reconciling entries/amounts in the books.
· (2) Verification of the duty provided on closing stock of finished goods and its calculation & treatment in the books.
·
(3)Checking of balance with excise department with excise return
· (4)Checking of duty paid during the period with the excise records & verification of the reconciliation entries.
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