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excise registers

Former Member
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hi gurus,

can anyone pls tell me the full details of excise registers, its types and what are the functions and how they are getting updated during process..

with regards

vijay

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Answers (1)

Answers (1)

Former Member
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The registers that are applicable are RG1 RG23A, RG23C and RG23D. These are ther main registers. RG23A is for raw materials and RG23C is for Capital goods and RG23D is for Depots and RG1 is for finished goods.

Now RG23A and C have two parts partI and Part II

In the part I the excise paid on inputs is entered. This is called cenvat. In the Part II, the excise duty payable on output i.e sales is entered. The nett excise duty payable is PArt II - PArt I

This is called offsetting inpout against output.

For capital goods normally 50% is allowed to be entered in the first year. i.e the cenvat creadit is allowed for 50% and the rest 50% in following years. So customising is accordingly. IN case of vertain raw materials only a part of the excise duty is allowed towards CENVAT and the rest is added to the material price. This has implication on the material valuation in accounts.

RG1 is what it is a stock account of finished goods with opening balance, despatched and material added from production, etc.

RG23D is maintained for depots showing in he incoming and outgoing movements,

Hope this information is useful.

regds

Jude