"So, when u 'burn' fat, where exactly is it going. Does it get excreted?"
Kinda. Fat is made up of carbon, hydrogen and oxygen (as are carbohydrates). When you "burn" fat (or carbs) it produces primarily heat or energy. The heat keeps you warm and the energy keeps you moving and thinking and repairing. The leftovers from this are mostly carbon dioxide (carbon and oxygen) which you exhale and water (hydrogen and oxygen) which you sweat, breathe and pee out. The energy is released from breaking the bonds either between two carbon atoms, or between carbon and hydrogen atoms, which is why we don't excrete a lot of stuff that contains lots of carbons strung together or carbon and hydrogens strung together. The main exceptions are small amounts of glucose and ketones which are sometimes excreted in the urine. The stuff you poop out is NOT stuff that has been burned for energy, it is merely food that hasn't been absorbed (mainly fiber) and dead cells and bacteria from your stomach and intestine (plus some water).
Protein is pretty much the same when burned for fuel, except protein also has nitrogen in it. So when you are burning proteins you are also excreting nitrogen in your urine (as well as carbon diodise and water).