Scribd Logo
Upload

Welcome to Scribd!

  • 25 views

    Accounting Entries in CIN

    Uploaded by

    periya86
    This document outlines accounting entries for various procurement and manufacturing processes in relation to excise duty and customs duty. It discusses entries for domestic and import procurement of raw materials and capital goods, as well as entries for subcontracting reversals and credits. Manufacturing entries are provided for factory sales, stock transfers, and excise invoice creation linked to periodic duty utilization. The document notes that cenvat suspense accounts should be cleared using appropriate invoice vouchers.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content

    You might also like

    Accounting Entries in CIN

    Uploaded by

    periya86
    25 views4 pages
    This document outlines accounting entries for various procurement and manufacturing processes in relation to excise duty and customs duty. It discusses entries for domestic and import procurement of raw materials and capital goods, as well as entries for subcontracting reversals and credits. Manufacturing entries are provided for factory sales, stock transfers, and excise invoice creation linked to periodic duty utilization. The document notes that cenvat suspense accounts should be cleared using appropriate invoice vouchers.

    Original Description:

    Sap Ref Book

    Copyright

    © © All Rights Reserved

    Available Formats

    DOC, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    This document outlines accounting entries for various procurement and manufacturing processes in relation to excise duty and customs duty. It discusses entries for domestic and import procurement of raw materials and capital goods, as well as entries for subcontracting reversals and credits. Manufacturing entries are provided for factory sales, stock transfers, and excise invoice creation linked to periodic duty utilization. The document notes that cenvat suspense accounts should be cleared using appropriate invoice vouchers.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    25 views4 pages

    Accounting Entries in CIN

    Uploaded by

    periya86
    This document outlines accounting entries for various procurement and manufacturing processes in relation to excise duty and customs duty. It discusses entries for domestic and import procurement of raw materials and capital goods, as well as entries for subcontracting reversals and credits. Manufacturing entries are provided for factory sales, stock transfers, and excise invoice creation linked to periodic duty utilization. The document notes that cenvat suspense accounts should be cleared using appropriate invoice vouchers.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    of 4

    Accounting entry in procurement

    ~ For Domestic Procurement of Raw Material


    During GR
    Material Stock Dr.
    GR/IR clearing Cr.
    During Excise Invoice Credit
    Cenvat Account Dr.
    Cenvat Clearing Cr.
    During Invoice Verification
    Cenvat Clearing Dr.
    GR/IR Clearing Dr.
    Vendor Paa!le Cr.
    For Domestic proceurement of Capital Goods
    During GR
    Material Stock Dr.
    GR/IR clearing Cr.
    During Excise Invoice Credit
    Cenvat Account Dr. "#$%&
    Cenvat 'n()old Dr. "#$%&
    Cenvat Clearing Cr.
    During Invoice Verification
    Cenvat Clearing Dr.
    GR/IR Clearing Dr.
    Vendor Paa!le Cr
    Su!se*uent of Ca+ital Goods
    Cenvat Account Dr. "#$%&
    Cenvat 'n()old Cr. "#$%&
    For Import Procurement of Raw Material
    During Custo,s Dut Clearing invoice
    Custo, Clearing Dr.
    Custo, Paa!le Cr.
    During GR
    Material Stock Dr.
    GR/IR clearing Cr.
    During Excise Invoice Credit
    Cenvat Account Dr.
    Custo, Clearing Cr.
    During Invoice Verification
    GR/IR Clearing Dr.
    Vendor Paa!le Cr.
    For Excise Duty Credit of Raw Material without PO

    Cenvat Account Dr.
    Cenvat Clearing Cr.
    For Excise Duty Reversal throuh Excise !"
    Cenvat Clearing Dr.
    Cenvat Account Cr.
    Accounting entry when the goods are issued through MM and
    excise invoice is created (J1IS & J1IV)
    Durin Excise Invoice Creation
    Cenvat Sus+ense Account Dr.
    Cenvat +aa!le Cr.
    For #R$C Challan
    P-A Account Dr.
    P-A on )old Account Cr.
    Durin Fortnihtly %tili&ation
    Cenvat +aa!le Dr.
    Cenvat Account Cr.
    P-A Account Cr.
    .ote/ Cenvat Sus+ense Account s)ould !e cleared a++r+iatel using 0I 1V2s.
    Accounting entry in subcontracting reversa ! "ecredit
    For 'u(contractin Challan Reversal
    Cenvat Reversal Dr.
    Cenvat Account Cr.
    For 'u(contractin Challan Recredit
    Cenvat Account Dr.
    Cenvat Reversal Cr.
    Accounting entry in S#
    For Factory 'ale
    Durin )illin Document
    Custo,er Account Dr.
    Sales Account Cr.
    Cenvat Sus+ense Account Cr.
    Durin Excise Invoice Creation
    Cenvat Sus+ense Account Dr.
    Cenvat +aa!le Cr.
    For #R$C Challan
    P-A Account Dr.
    P-A on )old Account Cr.
    Durin Fortnihtly %tili&ation
    Cenvat +aa!le Dr.
    Cenvat Account Cr.
    P-A Account Cr.
    For 'toc* #ransfer throuh 'D
    +o ,ccountin entries for Performa )illin Document
    Durin Excise Invoice Creation
    Cenvat Sus+ense Account Dr.
    Cenvat +aa!le Cr.
    For #R$C Challan
    P-A Account Dr.
    P-A on )old Account Cr.
    Durin Fortnihtly %tili&ation
    Cenvat +aa!le Dr.
    Cenvat Account Cr.
    P-A Account Cr.
    .ote/ Cenvat Sus+ense Account s)ould !e cleared a++r+iatel using 0I 1V2s.

    You might also like