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Dec 12, 2008 at 10:29 AM

Modvat receivable account

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Hi,

Hi here i m making a import PO , and and follow the all process of import i.e. custom MIRO - MIGO - Material Invoice.Also posting is done of excise part II.But In that ,the accounting document showing the following entries

1. AED ➕ say 100 INR

2. RG23A (+)say 100 INR

3. CESS DUTY ➕ say 100 INR

4. MODVAT REC.FOR THAT PLANT ➖ 300 INR.

But instead of (4) MODVAT REC.FOR THAT PLANT ➖ ,i require CVD Clearing account (-).So please suggest why thisModvat rec. plant account comes into picture instead of CVD account?