on 08-25-2012 7:08 AM
Dear Experts
Can Any body please tell me what is the accounting entry of excise invoice accounting document?
Thanks in Advance
Dear Tamal
Its a basic query you can get a lot of link for this.
The entries generated for excise invoice/challan
Excise clearing account Dr 12.36
Excice duty BED payable Cr 12
Excise Duty Cess Payable Cr .24
Excise Duty Hcess Payable Cr .12
Hope it will helpful for you.
Regards
Pankaj Pandey
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Hi,
Itemwise Excise Duty Calculated by GL Account(Bed,Cess,Hcess)
Thanks,
Nithi
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Hi Tamal,
You need to create a Outgoing Excise clearing account under the Liablity group under current liablity. The Linking of this account is based in the type of accounting you specify at the item master data (i.e) based on the Item Level or Item Group or Warehouse.
You need to give the Clearing account at item level or itemgroup or warehouse accordingly.
The same is also applicable for the incoming excise clearing account.
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