How should excise duty be accounted??
It is said that if the threshold limit is crosssed excise duty should be collected and closing stock should be valued inclusive of excise duty??
What will happen next year??
1 Replies
Murthy B.C
(Excise Officer)
(141 Points)
Replied 26 July 2010
Hello
Excise Duty And Raw Material Should be maintsin Saparate Records for Excise Purpose
This Recards Same to C/F for next year also.
if u want Rawmaterial cost of other Purpose u take both cost ( Rawmaterial + Excise +other Taxes)
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