CENTRAL EXCISE ENTRIES

RG 1 à Production & issues or Inputs from production and sales

 

RG 23A Part I à Like stock register, only product details and quantity details

 

RG 23A Part II à Cenvat credit on incoming materials & Duty payable on out going materials or on sales (Monthly register)

 

Excise PLA Register à TR 6 Challans

 

Form No. 5 register à for return goods (Form D3 to be submitted to Excise dept)

 

 

In SAP the movement you save the MIGO transaction, it automatically generate FI document. It will create the following entry.

 

1) Inventory Raw material A/c Dr

                        GR/IR Clearing A/c

 

In MIGO Transaction itself, you can post Excise by choosing capture and post Excise Invoice. The FI document will be as follows

 

2) RG 23A Basic Excise duty A/c            

                        Cenvat Clearing A/c

 

After doing MIGO, you execute MIRO. In this transaction also SAP will generate FI document automatically. The entry will be as follows:

 

3) GR/IR Clearing A/c Dr

    Cenvat Clearing A/c Dr

    VAT Setoff A/c   Dr

            Vendor A/c     Cr