Accounting entry in procurement~ For Domestic Procurement of Raw
Material During GR Material Stock GR/IR clearing During Excise
Invoice Credit Cenvat Account Cenvat Clearing During Invoice
Verification Cenvat Clearing GR/IR Clearing Vendor Payable During
GR Material Stock GR/IR clearing During Excise Invoice Credit
Cenvat Account Cenvat On-hold Cenvat Clearing During Invoice
Verification Cenvat Clearing GR/IR Clearing Vendor Payable
Subsequent of Capital Goods Cenvat Account Cenvat On-hold Dr. (50%)
Cr. (50%) For Import Procurement of Raw Material Dr. Dr. Cr Dr. Dr.
(50%) (50%) Cr. Dr. Cr. Dr. Dr. Cr. For Domestic proceurement of
Capital Goods Dr. Cr. Dr. Cr.
During Customs Duty Clearing invoice Custom Clearing Custom
Payable During GR Material Stock GR/IR clearing Dr. Cr. Dr. Cr.
During Excise Invoice Credit Cenvat Account Custom Clearing
During Invoice Verification GR/IR Clearing Vendor Payable Dr. Cr.
Dr. Cr.
For Excise Duty Credit of Raw Material without PO
Cenvat Account Cenvat Clearing
Dr. Cr. For Excise Duty Reversal through Excise JV
Cenvat Clearing Cenvat Account
Dr. Cr.
Accounting entry when the goods are issued through MM and excise
invoice is created (J1IS & J1IV)During Excise Invoice Creation
Cenvat Suspense Account Cenvat payable For TR6C Challan PLA Account
PLA on hold Account Dr. Cr. Dr. Cr.
During Fortnightly Utilization Cenvat payable Cenvat Account PLA
Account Dr. Cr. Cr.
Note: Cenvat Suspense Account should be cleared apprpiately
using FI JV's.
Accounting entry in subcontracting reversal / RecreditFor
Subcontracting Challan Reversal Cenvat Reversal Cenvat Account For
Subcontracting Challan Recredit Cenvat Account Dr. Dr. Cr.
Cenvat Reversal
Cr.
Accounting entry in SDFor Factory Sale During Billing Document
Customer Account Sales Account Cenvat Suspense Account During
Excise Invoice Creation Cenvat Suspense Account Cenvat payable For
TR6C Challan PLA Account PLA on hold Account Dr. Cr. Dr. Cr. Dr.
Cr. Cr.
During Fortnightly Utilization Cenvat payable Cenvat Account PLA
Account Dr. Cr. Cr. For Stock Transfer through SD
No Accounting entries for Performa Billing Document During
Excise Invoice Creation Cenvat Suspense Account Cenvat payable For
TR6C Challan PLA Account PLA on hold Account Dr. Cr. Dr. Cr.
During Fortnightly Utilization Cenvat payable Cenvat Account PLA
Account Dr. Cr. Cr.
Note: Cenvat Suspense Account should be cleared apprpiately
using FI JV's.
