Advance money For any transaction to be carried out of U.

f U.P and any other states the transation is termed as export. Mohan Mekin Ltd carries out export of two types:1. Civil 2.C.S.D Both have different advance excise duties. 10.28% for U.P state. For every transaction to be carried out challan has to be submitted in a bank, and this challan is called advance money as it must be deposited before every transaction is performed. example:- If Mohan Mekin Ltd has to export its products to Haryana and the valuation of the items is Rs10,000 then the amount to be deposited in the bank has to be equal to or more than Rs 10,000. If the products are to be exported to another state then a state permit is required to carry out the transaction. This state permit is known as export pass which has to be returned to the state within 90 days and this pass is issued via the State Excise Authority. If the pass is not submitted within the permitted time then a fine is imposed.