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Former Member
Aug 19, 2007 at 05:51 AM

pla vs cenvat account



may i know what is the difference of personal ledger account and cenvat account?

pla = A bank account, in India, that businesses use solely for the purpose of remitting excise duty to the excise authorities.

When you are due to remit excise duty, you transfer the appropriate sum to the personal ledger account, from where it is deducted by the authorities.

cenvat = A procedure whereby businesses (for example, in India) can offset excise duty on inputs against excise duty on outputs.

for example part II shows the amounts of excise duty on the materials, and how much you have transferred to the CENVAT ACCOUNTS