what is excise duty and what should be the entry of
purchase and sale in account books of excise

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what is excise duty and what should be the entry of purchase and sale in account books of excise..

Answer / kapilsingh

excise duty chargeabe on the all manufacturing products
purchase a/c dr
excise duty a/c dr
to cash


for sales entry
cash a/c dr
to sales
to excise

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what is excise duty and what should be the entry of purchase and sale in account books of excise..

Answer / soumya ranjan barik

purchase /C DR
EXCISE DUTY A/C DR
TO CASH
IN CASE OF SALE
CASH A/C DR
TO SALES A/C
TO EXCISE DUTY A/C

Is This Answer Correct ?    0 Yes 0 No

what is excise duty and what should be the entry of purchase and sale in account books of excise..

Answer / kapilsingh

excise duty chargeabe on the all manufacturing products
purchase a/c dr
excise duty a/c dr
to cash


for sales entry
cash a/c dr
to sales
to excise

Is This Answer Correct ?    0 Yes 1 No

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in our co we are sales of good to branch in order sales+fright, branch made jv entry in own book as full amount debit and credit. now our book show sales without freight but branch shows including freight that why differences is arise due to wrong entry passes pls clarify this entry and this entry is done last year book now balance is finalize.

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