Accounting entries for consumption tax payable:
1. Sales of taxable consumer goods:
Borrow: ? Business Taxes and Surcharges
Loan: Taxes Payable--Consumption Tax Payable
2. Taxable Consumer Goods Produced for Self-Use:
Borrow: Construction in Progress/Fixed Assets/Remuneration Payable to Employee/Out-of-Pocket Expenditures
Loan: Inventory Commodities
Taxes Payable -- VAT payable (output tax)
-- Consumption tax payable
3. Commissioned processing of taxable consumer goods:
Commissioned processing materials recovered for the continued production of taxable consumer goods
Borrow: Commissioned processing materials
credit: raw materials
borrow: commissioned processing materials
credit: payable taxes - payable consumption tax
borrow: raw materials
credit: commissioned processing materials
recovered commissioned processing materials directly used for external sales
Borrow: commissioned processing materials
Loan: raw materials
Borrow: commissioned processing materials
Loan: accounts payable
Borrow: raw materials
Loan: commissioned processing materials
Accounting for the collection of the commissioned processing of the collection of the excise tax on behalf of the collection of the collection of the collection of the collection of the collection of the collection of the collection of the excise tax:
Loan: accounts receivable/bank deposits
Credit: Taxes Payable - Consumption Tax Payable
4, the import of taxable consumer goods:
Borrow: Material Purchases/Fixed Assets/Inventory Commodities
Loan: Accounts Payable/Bank Deposit
Expanded:
According to the "Provisional Regulations on Consumption Tax of the People's Republic of China*** and the People's Republic of China":
Article 5 of the Consumption Tax applies the method of ad valorem fixed-rate, quantitatively-fixed-rate, or the method of composite tax calculation of ad valorem fixed-rate and quantitative fixed-rate ( Hereinafter referred to as compound tax calculation). The formula for calculating the taxable amount:
The taxable amount calculated by the ad valorem fixed-rate method=sales×proportional tax rate
The taxable amount calculated by the quantitative fixed-rate method=quantity of sales×fixed tax rate
The taxable amount calculated by the composite taxing method=sales×proportional tax rate+quantity of sales×fixed tax rate
The sales amount of taxable consumer goods sold by a taxpayer is calculated in RMB. Consumer goods sold by taxpayers, the sales amount is calculated in RMB. If the taxpayer settles the sales in currencies other than RMB, the sales shall be converted into RMB.
Article 6: The sales amount shall be the total price and out-of-prices expenses charged by the taxpayer to the buyer for the sale of taxable consumer goods.
Article VII of the taxpayer's self-produced taxable consumer goods, in accordance with the taxpayer's production of similar consumer goods sales price of tax; there is no similar consumer goods sales price, in accordance with the composition of the taxable price of tax calculation.
The formula for calculating the taxable price under the ad valorem fixed-rate method:
Component taxable price=(cost+profit)÷(1-proportional tax rate)
The formula for calculating the taxable price under the composite tax method:
Component taxable price=(cost+profit+quantity of self-produced and self-used products×fixed tax rate)÷(1-proportional tax rate) Proportional tax rate)
Article VIII of the commissioned processing of taxable consumer goods, according to the commissioned party's sales price of similar consumer goods to calculate the tax; there is no sales price of similar consumer goods, according to the composition of the taxable price to calculate the tax.
The formula for calculating the composition taxable price for the ad valorem fixed-rate method of calculating tax:
Composition taxable price = (material cost + processing fee) ÷ (l - proportional tax rate)
The formula for calculating the composition taxable price for the composite tax calculation method of calculating tax:
Composition taxable price = (material cost + processing fee + the number of commissioned processing × fixed tax rate) ÷ (1 - proportional tax rate) )÷(1-proportional tax rate)
Article IX imported dutiable consumer goods, according to the composition of the taxable price calculation of tax.
The formula for calculating the component taxable price for the implementation of the ad valorem fixed-rate method of calculating tax:
Component taxable price = (tariff-paid price + tariff) ÷ (1 - proportional consumption tax rate)
The formula for calculating the component taxable price for the implementation of the composite tax method of calculating tax:
Component taxable price = (tariff-paid price + tariff + imported quantity x (Consumption tax fixed rate) ÷ (1 - proportional rate of consumption tax)
Article X of the taxable consumer goods taxable price is obviously low and without justifiable reasons, the competent tax authorities to approve its taxable price.
Article 11 of the taxpayer exports taxable consumer goods, exempted from consumption tax; except as otherwise provided by the State Council. The tax exemption methods for the export of taxable consumer goods shall be prescribed by the competent departments of finance and taxation under the State Council.
Article 12: Consumption tax shall be levied and collected by the tax authorities, and consumption tax on imported taxable consumer goods shall be collected by the Customs.
The consumption tax on taxable consumer goods brought into the country by individuals or by mail shall be collected together with the customs duty. The specific measures shall be formulated by the Customs Tariff Commission of the State Council in conjunction with the relevant departments.
Article 13 The taxable consumer goods sold by a taxpayer, as well as the taxable consumer goods produced for self-consumption, shall be declared as taxable to the tax authorities in charge of the place where the taxpayer's organization is located or the place where the taxpayer resides, unless otherwise provided by the competent authorities in charge of finance and taxation under the State Council.
Consigning the processing of taxable consumer goods, unless the entrusted party is an individual, the entrusted party shall pay the consumption tax to the competent tax authorities at the place of the organization or the place of residence.
The imported taxable consumer goods shall be declared to the customs at the place of declaration.
Baidu Encyclopedia-Consumption Tax