Summary of Inputs and PLA - Excise Duty Computation Basics



Make  Excise Duty Computation

Particulars Amount
Output ED 85000
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?


Particulars Amount
Output Vat 38250
Input Vat on Purchases 6200
Input Vat on Capital Goods 1/3 2625
Total input Vat 8825
Vat Payable 32050


Suppose Company had a Balance of 20000 in PLA Account
It Deposited 40000 more
What is the Balance left after adjusting Excise Duty Payable

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What is the amount of Challan in this Case?

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 13 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.