| # Financial postings for AS SUCH sale of non-capital goods This functionality is specific for India. When non-Capital purchased goods are sold AS SUCH, the original CENVAT credit amount availed on the goods must be reversed. The financial postings for reversal of CENVAT credit amount and AS SUCH sale of the non-Capital goods are explained with an example. Note The ledger accounts for each excise tax code are defined in the Posting Data for Tax Codes (tfgld0171s000) session. The Supplier Control and Customer control account are defined in the Accounts by Financial BP Group (tfacp0110m100) session. Non-capital goods are purchased for INR 100 with Excise duty is INR16 and sold for INR120. Step 1. On purchase of Non-Capital goods:
Debit/ Credit | Ledger Account | Amount
--- | --- | ---
Debit | Purchase | INR 100
Debit | CENVAT Credit Available | INR 16
Credit | Supplier's control | INR 116
Step 2. On AS SUCH Sale of non-capital goods :
Debit/ Credit | Ledger Account | Amount
--- | --- | ---
Debit | Customer Control | INR 136
Credit | CENVAT credit available (non-capital goods) | INR 16
Credit | Sales | INR 120
Related topics Excise duty process for AS SUCH sale of Non-Capital goods |