on 12-06-2011 9:37 AM
Dear Experts ,
Can any one help me knowing the following-
ater billing and after excise invoice also accounting entries hits
after invoice --- customer account is debited
sales revenue and all tax accounts including excise are credited
after excise invoice -
cenvat suspense a/c is debited
all excise duties a/c is credited
why there is updation of excise duties again and again ?
please clear the doubt
Regards
Supriya Parimal
closed
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Because those are 2 separate legal documents.those must have separate accounting entries
This excise invoices are submitted to the central department of excise In every year like as billing documents.so excise invoice should have excise duties.
In billing document over all billing value will be calculated including with excise duties.
Thank you,
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Dear supriyaparimal0,
In commercial invoice the excise duties will be credited in a clearing account.
When you raise the excise invoice the same clearing account will be debited and part-2 registers will be credited.
Hope this will help you
Thanks&Regards
Raghu.k
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