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

Clarification on Accounting Codes: Excise Duty on Jewelry Lacks Goods-Specific Codes Unlike Service Tax. A participant inquired about the appropriate accounting code for paying a 1% excise duty on jewelry. A respondent clarified that, unlike service tax, which has service-specific accounting codes, excise duty does not have goods-specific accounting codes.