RG1

[Former Member]

Hello All,

pl. explain me the concept of RG1.

Thanks & Regards,

Smita

[Former Member · Accepted solution]

Hi

Refer below sdn thread posted

[Former Member]

hi,

RG1:

for every good that is manufactured in india ,excise duty has to be paid.

the RG1 is a register,the new name for that is" DAILY STOCK ACCOUNT" which is maintained at the factory level which records all the finished goods (which are ready for sale,not semi finished).it consists of the following entries

1.opening balance.---of the stock

2.production---the production for that day

3.total--1+2

4.clearances---for home consumption or exports

5.value

6.clearances without payment of duty

7.purpose of the excemption

8.rate of duty

9.duty payable

10.closing balances.

the RG1 has to be maintained by every factory or company registered under the

excise registration.at any point of time there should not be any discrepancy between the physical stock and to the book--RG1.

regards

reward points if helpful

sriram.

[Former Member]

The system allows you to prepare certain excise registers that are required to be maintained by the authorities.

The SAP System handles the following excise registers:

Register RG 1: The register records the record of excisable finished goods transferred from factory to a customer or a depot.

Registers RG1 needs to be updated daily. This needs to be done manually at the end of the day using Transaction code J1I5.

Register RG 23A and 23C, Parts I and II: A record of excisable goods issued and received in a manufacturing plant. The register consists of two parts:

Part I shows the quantities of the materials. This is updated at the time of goods receipt. However , if the user chooses not to make the entry at the time of goods receipt, this can be updated later, when an update of the register is run in the system.

Part II shows the amounts of excise duty on the materials, and how much you have transferred to the CENVAT accounts. This is automatically posted when you enter an incoming or outgoing excise invoice in the system. The system also automatically creates an accounting document to transfer the amount to the relevant CENVAT account. In the case of an outgoing excise invoice it debits the amount to a CENVAT suspense account and credits the amount to a excise duty account.

Part 1entries of the RG23A/C registers get updated automatically. The entries are checked every month and if the register is not getting updated we can update it manually by using transaction Code J1I5.

Register RG 23D :A record of receipts and issue of materials as kept by a depot. The system keeps track of the serial numbers of each good that it receives. The entries are made at the time of goods issue when a clerk receives the goods and at the time of sales when he places a sales order for a customer.

Personal Ledger Account (PLA): This is the bank account from which you transfer any money owing to the excise authorities.

Register ER1 (RT12)-This is a monthly report that summarizes the CENVAT and PLA information from the other registers.

The system allows you to update the registers and then extract the data and obtain a print out of the registers you want. Alternatively you can download the register in a flat file on your computer provided you have updated the registers in the system.