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Q8
-a-
Make Excise Duty Computation
| Particulars | Amount |
| Output ED | 85000 |
| Less | |
| Input ED (Cenvat on Inputs) | 16000 |
| Input ED (Cenvat on Capital Goods 1/2) | 8750 |
| Input Service Tax (Cenvat on Input Services) | 2800 |
| Total Cenvat | 27550 |
| ED Payable | 57450 |
What is Vat Payable?
-a-
| Particulars | Amount |
| Output Vat | 38250 |
| Less | |
| Input Vat on Purchases | 6200 |
| Input Vat on Capital Goods 1/3 | 2625 |
| Total input Vat | 8825 |
| Vat Payable | 32050 |
Q9
Suppose Company had a Balance of 20000 in PLA Account
It Deposited 40000 more
What is the Balance left after adjusting Excise Duty Payable
Details of PLA
| Particulars | Amount |
| Opening Balance of PLA | 20000 |
| Add | |
| Amount Deposited | 40000 |
| Total Amount Available | 60000 |
| Less | |
| Amount Utilized for Paying Duty | 57450 |
| Closing Balance of PLA | 2550 |
Q10
What is the amount of Challan in this Case?
Amount of Challan is the amount Deposited i.e. 40000
