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Former Member

pla vs cenvat account

hi,

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

thx

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1 Answer

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    Former Member
    Posted on Aug 20, 2007 at 06:34 AM

    Hi Eliana

    What is your question ?

    You wanted to know diff between PLA and CENVAT but seems you already knowit.

    Thanks

    Ashok

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    • Former Member Former Member

      hi,

      you mean pla account is excise register g/l account or pla on hold acc? what is this pla on hold?

      cenvat account is just a clearing account?

      thanks