Assembling with another product
This query is : Resolved
10 February 2011
Dear all expert
We are manufacturing company (registered in excise) we purchasing material from our vendor with excise which is not our product but we use(sale) itafter assembling with another product (which is our pruduct). how we take it in purchse & sale hoe we treat in excise records.
pls urgent rply
Dear all expert
We are manufacturing company (registered in excise) we purchasing material from our vendor with excise which is not our product but we use(sale) itafter assembling with another product (which is our pruduct). how we take it in purchse & sale hoe we treat in excise records.
pls urgent rply
16 February 2011
It is an input eligible for credit. You can account for the same as under:
raw materials - 100
cenvat credit - 10
to supplier x - 110
In the cenvat credit register you would include the 10 and ustilise the same for payment of excise duty on your final product.
raw materials - 100
cenvat credit - 10
to supplier x - 110
In the cenvat credit register you would include the 10 and ustilise the same for payment of excise duty on your final product.
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