APPICABILITY OF EXCISE ON GOODS REMOVED FOR EXIBITION PURPOS

This query is : Resolved

CA. AMIT (Querist)
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14 May 2011 SIR,

I WOULD LIKE TO KNOW WHETHER EXCISE DUTY IS PAYABLE ON GOOD REMOVED FOR EXHIBITON PURPOSE AND SUPPOSED TO COME BACK AFTER EXBITION IS COMPLETE. IS THE EXCISE INVOICE IS TO BE MADE FOR GOODS REMOVED. FURTHER WHAT IS THE EXCISE ENTRIES AND ACCOUNTING ENTRIES NEED TO BE MADE IN THIS REGARD?

U S Sharma

U S Sharma (Expert)
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23 May 2011 you can remove under bond for exibition purpose, and then return back to factory of manufacture,

in case you sell out the goods from exibition ground, you have to pay the duty on sales invoice value.

For details of bond procedure visit "tech superintendent" of your excise division.