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Excess excise duty paid in march can we adjusted in next month with notification

Jainath Sharma (Account Executive - taxation) (30 Points)

19 May 2016

Dear Sir, If we pay the excess excise duty in march then we can adjust in next month liability (give me Notification)?? kindly resolve this querry. Thanks & Regards Jainath Sharma 9867058578

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4 Replies

CA RAHUL RAMCHANDAN (Chartered Accountant) (235 Points)
Replied 20 May 2016

Yes you can very well utilize the same amount for next or for any future period , just you have to show cash payment in Excise return and ca carried forwarded to next period , if you want i can explain how to show in return..excess paid..

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Jainath Sharma (Account Executive - taxation) (30 Points)
Replied 20 May 2016

Dear Sir,

Thanks for prompt reply, we had shown the Excess paid amount in ER-1 Return

if there any notification available kindly share the same.

Thanks & Regards

Jainath Sharma

Niraj Kumar Sinha (Sr. Officer, SPSIL) (648 Points)
Replied 20 May 2016

PLA (cash payment register) is maintained on balancing method. Smount paid to the bank is shown in credit side and amount utilised for excise duty is shown in debit side. And if there is any balance, it comes in Balance Column. Since it rule of Excise so no notification has been issued for this.