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Modvat

NavaneethaKrishnan (Managing Partner) (32 Points)

24 April 2014

Hi for all,

I am owning chemical trading company in Chennai. I am purchasing chemicals from Mumbai direct importers . I need to sell the goods to my local clients. They are asking MODVAT bill so that they can claim. My question is, can I register with excise? Can I provide MODVAT bill? Any restrictions for dealers?

Please clarify my doubts. Thanks in advance.

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6 Replies

CA Gaurav Mittal (Partner) (1230 Points)
Replied 24 April 2014

Yes sir, U can issue MODVAT credit bills.

u need to register urself as a frst stage dealer

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SATVEER (executive) (137 Points)
Replied 24 April 2014

first register ur self in excise as 1st stage dealer, then u can pass on modvate, same issue by ur importer, prepare stock rgister 23-D, file dealer return in every 3month last date is 15/01, 15/04, 15/07, 15/10 etc

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NavaneethaKrishnan (Managing Partner) (32 Points)
Replied 19 June 2014

Thanks for Mr.Mittal & Satveer.

I have registered as a dealer in excise as per your valuable replies.

Now i got the invoice from my supplier. They are second stage dealer and they mentioned importers name and address and first stage dealer address.Now can i forward that modvat credit to my client?

In that invoice they have mentioned imports material quantity and value.

What are the things i have to mention in my invoice?

should i mention all the three parties (includes my supplier) names and address mention in my invoice?

Please clarify my doubts. Thanks in advance.

Regards

Navaneethakrishnan

CA Gaurav Mittal (Partner) (1230 Points)
Replied 19 June 2014

Sir,

The credit of MODVAT can be passed upto 2 stages only. You are already procuring goods from second stage dealer, hence you cannot forward credit of the same.

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