Can anyone please explain about Personal Ledger Account (PLA) in the context of Central Excise ??
Why is it said that after the introduction of monthly payment system, PLA has become redundant except
in the month of March ??
Thanks in advance....
2 Replies
JMS
(DY.MANAGER -COMMERCIAL)
(110 Points)
Replied 27 May 2014
PLA is a mandatory one to maintain for every manufacturer. This is used to take credit of payment made through challan. Merely payment deposited in the bank through challan is not considered as duty payment until you debit the amount in PLA after taking credit. Balance amount can be used for another transaction as and when required.
Regards,
JMS
Tony John
(Chartered Accountant)
(6085 Points)
Replied 27 May 2014
Has PLA now become redundant in any way ?
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