Exise Duty

Prabhudevaru (Article) (105 Points)

16 August 2010

What are the accounting entries to be done for Exise duty on Capital goods

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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)

(Guest)

our sales is 14700000 ,fire wood is Rs. 3000000 & rest wooden crate .we need to Central Excise Registration or declaration

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