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  • The Entreis Are As Below

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    ramakrishna099
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    The document outlines various accounting entries for procurement, receipt, and payment of raw materials and capital goods. It includes entries for domestic procurement, import procurement, excise duty credit, and excise duty reversal. Key steps involve material stock/inventory, clearing duties and taxes, vendor payments, and adjusting cenvat/excise accounts.

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    The Entreis Are as Below

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    The document outlines various accounting entries for procurement, receipt, and payment of raw materials and capital goods. It includes entries for domestic procurement, import procurement, excise duty credit, and excise duty reversal. Key steps involve material stock/inventory, clearing duties and taxes, vendor payments, and adjusting cenvat/excise accounts.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    Download as doc, pdf, or txt
    13 views3 pages

    The Entreis Are As Below

    Uploaded by

    ramakrishna099
    The document outlines various accounting entries for procurement, receipt, and payment of raw materials and capital goods. It includes entries for domestic procurement, import procurement, excise duty credit, and excise duty reversal. Key steps involve material stock/inventory, clearing duties and taxes, vendor payments, and adjusting cenvat/excise accounts.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    of 3

    the entreis are as below

    ~ For Domestic Procurement of Raw Material 1. During GR 1. Material Stock 2. GR/IR clearing 2. During Excise Invoice Credit 1. Cenvat Account 2. Cenvat Clearing 3. During Invoice Verification 1. Cenvat Clearing 2. GR/IR Clearing 3. Vendor Pa a!le Dr. Dr. Cr. Dr. Cr. Dr. Cr.

    4. For Domestic proceurement of Capital Goods 5. During GR 1. Material Stock 2. GR/IR clearing 6. During Excise Invoice Credit 1. Cenvat Account 2. Cenvat 'n()old 3. Cenvat Clearing 7. During Invoice Verification 1. Cenvat Clearing Dr. Dr. Dr. "#$%& "#$%& Cr. Dr. Cr.

    2. GR/IR Clearing 3. Vendor Pa a!le 8. Su!se*uent of Ca+ital Goods 1. Cenvat Account 2. Cenvat 'n()old

    Dr. Cr

    Dr.

    "#$%& Cr. "#$%&

    9. For Import Procurement of Raw Material 10. During Custo,s Dut Clearing invoice 1. Custo, Clearing 2. Custo, Pa a!le 11. During GR 1. Material Stock 2. GR/IR clearing 12. During Excise Invoice Credit 1. Cenvat Account 2. Custo, Clearing 13. During Invoice Verification 1. GR/IR Clearing 2. Vendor Pa a!le Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.

    14. For Excise Duty Credit of Raw Material without PO 1. Cenvat Account 2. Cenvat Clearing Dr. Cr.

    15. For Excise Duty Reversal throu h Excise !" 1. Cenvat Clearing 2. Cenvat Account Dr. Cr.

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