plz tell me
"how we know that an explanation have retrospectively effect or not"

Please explain me difference between LUT letter undertaking and advance license

refund is not available when the incidence of duty/interest is passed on.

Kindly explain incidence passed on.
thank you

A client of mine has availed cenvat credit in plant & machinery.It is the credit availed for previous months and not of the corresponding month.

I would like to know how this should be shown in books of accounts.

Can this amount be shown as income in P&L account?

Please tell me about point payment of Excise duty

1. On completion of Finished Goods and trf to warehouse
2. At the time Sale to buyer
3. At the time of Stock trf to Buyer (e.g.Sale on Approval Basis)

is there any option to select any one Basis

OUR COMPANY IS AN UNLISTED PUBLIC COMPANY. THE COMPANY GET A SALES TAx remission u/s 41 OF THE WBST ACT. THE COMPANY SHOWED THE REMISSION AMOUNT ON THE CREDIT SIDE OF THE P/L ACCOUNT EVERY. AT THE TIME OF EXCISE AUDIT, THEY MADE A SPOT MEMO THAT WHY EXCISE DUTY SHOULD NOT BE PAID ON SALES TAX REMISSION. THEY WRITTEN INTHEIR SPOT MEMO THAT THIS IS THE PART OF THE COST AND EXCISE DUTY SHOULD BE PAID. BUT AS PER SECTION 4 OF EXCISE ACT EXCISE DUTY IS PAYABLE ON PRODUCTION COST + PORFIT NOT ON SALES TAX. SO KINDLY PROVIDE ME ANY CASES ON THIS MATTER TO SOLVE OUR QUERY WITH EXCISE DEPARTMENT.

hye all of you please give me all details and suggest me what is the export process to Nepal and Bhutan....please give me the all relevant details as soon as possible.

dear sir my quires is that if we sold to finished goods to party and after one month party return our finished goods and we resale this finished goods to some other party in that case it will come in RG-I

for example
in july-11 we manufacture 100 nos and same qty we have sale to Party-A and entries show in RG-1register(100 manufacture & 100 Sale) in Aug-11 Party-A has been return our product.and month of Aug-11 we have not do any manufacture the above 100 nos which Sale return we Resale to Party B in this our RG-1 register showing (-)100 nos

Example:-
month Production Sale Closing
July-11- 100 100 0
Aug-11 0 (To-B)100 - 100

kindly suggest how to we can make proper entries as per excise rule.

Dear all,

kindly advice & give ur suggestion for my career in Excise field.

im 32 yr old B.A. passed , 4yrs work exp. in sales tax & 1yr in excise work, knowledge in book-keeping in tally & other commercial work.

i want to continue work in excise field n want to go in deep knowledge.

pls reply

Thanks in advance for your valuable suggestion & advice.

Sunil N.

Dear All,

We are one of the Cement Manufacturer, we have done stock transfer of cement to our godown by discharging Excise Duty. But due to quality problems Material has come back to factory for re-processing. Now how i can proceed.
1. Can I do cancellation of Excise Invoice? If yes, (Material cleared from factory on 06.09.2011 and returned back on 20.09.2011)after crossing factory gate is it possible.
Is there any other alternative available, if yes, please suggest us the procedure.
The matter is very urgent please suggest us.

Thanks & regards
KMB