Difference between Excise availed and Excise Utilised??
Difference between excise availed & excise utilised??
SUNILKUMAR WADHWANI (Chartered Accountant) (320 Points)
06 August 2013
3 Replies
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 06 August 2013
Here by excise you obviously mean Cenvat Credit of Excise:
Excise Availed or taken means booking the credit of the excise duty paid on purcahse of inputs(raw mat etc)
Excise Utilised means the utilisation of that excise duty paid on inputs for paying output excise duty or service tax on removal of goods from factory or rendering of services respectively.
So you need to pay lesser amount in cash when you utilise the credit of excise.
CA Kunal Mishra
(Consultancy Service)
(172 Points)
Replied 06 August 2013
Excise duty availed - Means you have available credit to use against liability
Excise duty utilised - Means you have utilised out off duty available.
Azim Khan ACA,CS,CMA*,LLB*
(Proprietor)
(1312 Points)
Replied 06 August 2013
Availment means to take eligible credit of duty or tax in the Books only (Only a Book Entry)
Unilisation means, to have utilised such credit against final liability of duty or tax
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