Accounting code to be used for payment of excise duty

[manoj lalwani]

Respected Seniors

can you guide me on what accounting code to be selected for payment of excise duty @ 1% on jewellery

[Ganeshan Kalyani]

Sir, in my view there is not goods wise accounting code for excise. In service tax there is service wise accounting code. Thanks.

AI Summary

Accounting code guidance: no goods wise excise accounting codes; use general excise accounting approach, service tax differs. Query on accounting code for payment of excise duty on jewellery: respondent advised there is no goods wise accounting code for excise and that service tax uses service wise accounting codes, so excise payments should follow the general excise accounting framework rather than a jewellery specific code.