What are the accounting entries to be done for Exise duty on Capital goods
Prabhudevaru (Article) (105 Points)
16 August 2010What are the accounting entries to be done for Exise duty on Capital goods
Ajay Raghatate
(Sr Executive (Excise & Accounts))
(736 Points)
Replied 18 August 2010
I First Year
Fixed Assets A/c Dr
Cenvat on Capt Goods BED Dr (50%)
Cenvat on Capt Goods ECS Dr (50%)
Cenvat on Capt Goods HECS Dr (50%)
Cenvat on Hold (50% of BED+ECS+HECS)
To vendor
IInd Year
Cenvat on Capt Goods BED Dr (50%)
Cenvat on Capt Goods ECS Dr (50%)
Cenvat on Capt Goods HECS Dr (50%)
To Cenvat on Hold (50% of BED+ECS+HECS)
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