Excise entry

[Former Member]

Experts,

What is accounting entry for excise when GR is done.

Many thanx

[kishore_babu15 · Accepted solution]

Dear,

Check the Below Entries with Examples.

At the time of MIGO:

There is no Excise Entry

- Stock account----

---

Dr 100/-

- GR/IR Account----

---

Cr 100/-

At the time of posting Incomming Excise Invoice (J1IEX)

BED Account -

---

Dr 8/-

E Cess Account -

---

Dr 2/-

SE Cess -

---

Dr 1/-

Cen Vat Clearing -

---

Cr 11/-

At the Time of Invoice (MIRO)

Vendor Account Cr 111/-

GR/IR Account -

---

Dr 100/-

Cen Vat Clearing Account -

---

Dr 11/-

Hope it will clear.

Regards,

Kishore K

Edited by: kishore babu on Dec 10, 2009 2:19 PM

Edited by: kishore babu on Dec 10, 2009 2:21 PM

[sanilbhandari]

Hi

The accounting entry for excise would be

BED A/c Dr

Ecess on BED Dr

SECess on BED Dr

To Cenvat Clearing Account

Regards

Sanil Bhandari

[Former Member]

Hello,

Excise Accounting Entry at the time of Goods Receipt

Inventory or StockA/c Dr

Rg23A/ Rg23c Part II A/c Dr

To Cenvat Clrg A/c

To GR / IR A/c

At the time of invoice verification

GR / IR A/c Dr

Cenvat Clrg A/c Dr

To vendorA/c

[Former Member]

Dear,

You need to post excise invoice using J1IEX. for which accounting entries are

At MIGO: goods receipt

Dr....Cenvat A/c

Cr......Cenvat clearning a/c

at MIRO: Invoice verification:

Dr......cenvat clearing a/c

Cr......cenvat A/c

Regards,

Prashanth