Excise Credit Debit entries

[Former Member]

Can you pl explain me what excise credit / debit entries happen when excise invoice is created? Also, when J1IH is posted?

regards,

rahul

[Former Member · Accepted solution]

HI,

excis invoice entries

customer a/c dr

to

sales domestic a/c cr

excise duty recovered a/c cr

cst payable cr

with best regards,

satishkumar.m

[Former Member · Accepted solution]

Dear Satish Kumar M,

Hello,

Entries created when excise inv is created is:

Cust A/c Dr

To Sales domestic a/c Cr

To Excise duty recovered a/c Cr

To CST Payable a/c Cr

This is the entry in case of sale. But in case of non- valueated stock transfer the entry I require is:

Cnvt Suspense A/c Dr

To Cnvt Payable 1a/c Cr

To Cnvt Payable 2 a/c Cr

Suppose amt of Cnvt Payable 1 A/c goes to G/L 1603901 & similarly amt of Cnvt Payable 2 A/c also goes to the same G/L a/c. This I've maintained in SPRO thru "Assign G/L Accounts". But if I want that Dr entry shd hit G/L 1603001, where do I need to maintain this?

[srinivasa_maruvada · Accepted solution]

Hi

Check at SPRO->Logistics general -> Tax on Goods Movements -> India -> Account determination

Srinivas

[claudia_neudeck]

no action since over two months, I close this thread