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Former Member
May 04, 2013 at 07:40 AM

Error in excise for capital goods receipt

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We have raised capital purchase order-

Basic price 500000

Excise-10% 50000

Education cess 1000

HSEC 500

Basic+Excise 551500

While doing MIGO-for excise entry passed:

RG23C DR 25000

Cenvat on hold Dr 24750

ED cess Dr 500

HSEC Dr 250

To Cenvat Clearing 50500

The correct amount should be:

RG23C DR 25000

Cenvat on hold Dr 25750

ED cess Dr 500

HSEC Dr 250

To Cenvat Clearing 51500

Where I have made the mistake-

Thanks in advance