what entries are required to be passed in pla? explain with an example.
2 Replies
CA Riswa Parekh
(Practicing)
(1591 Points)
Replied 15 June 2013
Every invoice entry for which you avail CENVAT credit and you utilize the credit is to be entered in PLA account. Also challan paid is entered in PLA account.
Each credit and debit entry should be made on separate lines and assigned a running serial number for the financial year.
The PLA must be prepared in triplicate by writing with indelible pencil and using double-sided carbon - original and duplicate copies of the PLA should be detached by the manufacturers and sent to the Central Excise Officer in charge along with the monthly/quarterly periodical return in form E.R.1.
satya
(Executive Excise)
(1839 Points)
Replied 18 June 2013
Dear Riswa ji,
Reply to your Para 2;
You are telling Manually maintain "Personal Ledger Account". Now a days it is not required. We can maintain soft copies also, such as: Excel Spread sheet.
CBEC clarifies that every assessee require to file ER1 in e-filing,
The question of Cenvat Account, PLA A/c. enclosers also not required in this instance.
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