CA Parul Saxena (CA) (8487 Points)
01 November 2013A manufacturing concern has following details at its factory in PLA register:-
Date .............Output .............Input ...................Payable through PLA
7.10.13....... 100000 ..........80000 ...................20000
15.10.13........ 80000........... 90000.................... Nil
Total...............180000 ..........170000 ................10000
Payment is to be made in the month of november now what amount to be paid in PLA 20000 or 10000??????
CA Chirag
(Chirag Sheth & Associates)
(1183 Points)
Replied 01 November 2013
considering figure written under Input, Output and PLA as credit available or payable, it should be 10000.
another thing there is no requirement of keeping minimum balance in PLA.
thanks
ca chirag
VIKASH KUMAR JAIN
(Audit Executive)
(711 Points)
Replied 01 November 2013
pintu
( Executive)
(174 Points)
Replied 01 November 2013
yea agree. the payment to made by PLA is 10000 and there id no need to keep balance in PLA
CA Parul Saxena
(CA)
(8487 Points)
Replied 02 November 2013
Our taxation department says that there must be sufficient input amount at the time of removal otherwise at that time duty is to be paid thats why we pay duty amount through PLA and utilize small amount of cenvat so that sufficient amount of input remains at the time of removal and interest is not to be paid.
Is it so the provision?????????
Rakshit
(practising)
(338 Points)
Replied 02 November 2013
Your case is dealt with Rule 8 of the Central Excise Ru;les. No b alance is required to be maintained. The condition is that for payment of duty supoos for October,2013, You can use credit availed upto 31.10.2013 and pay differential , if nay payable, through PLA/Cash by 5th of Nov. 2013
Raksh*t
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