What is the Excise duty element on free samples on whose finished products excise duty is payable on M.R.P? If yes, what is the accounting treatment? If no, why?

in case of "duty based on annual production capacity" under Sec 3A of Central Excise Act 1944.

Which rule/circular/notification says so?

Thanx.

XYZ ltd,Lucknow purchased plastic granules valued at 116000(inclusive of taxes) for manu. plastic chairs.It availed Cenvat credit of 16000rs paid on the said input.

How do we treat the following:

Clearance to XYZ ltd's own factory at Jaipur(purchase price:70000) :Free of Cost

a)IS cenvat credit required to be reversed?Why and how much?

b)Had the clearance been of 84000rs;would ur answer been different?

Quote answers with section/rule and their details as well as Court decisions as applicable.

Hi,

We have imported the Excisable material in Corrugated box(Packing chagres in corrugated box is not sepretly shown in Invoice). After import the corrugated box become useless so we are selling as a scrap. Please clarify that the sell of Corrugated box as a scrap is excisable or not and also mentioned if excisable than at what rate (4% or CVD rate).

Thanks in Advance
Ashish Gupta

should SSI company inform their excise division if companies total turn over is below 150 crore p.a. and they want to enjoy benefit of ssi exemption form excise duty

DEAR SIR,

(1)IS THERE EXCISE ON MFG OF GOLD ORNAMENTS / JEWELLERY STUDDED WITH DIAMONDS
STONES ETC ? IF YES OR NO - UNDER WHAT CHAPTER / HEADING / SECTION / NOTIFICATION ?

(2) IF WE MANUFACTURE BRANDED JEWELLERY ( PURELY ON JOBWORK BASIS )FOR OUR PRINCIPAL, THEN IS EXCISE DUTY APPLICABLE ?
IF YES / OR NO - UNDER WHAT CHAPTER HEADING/ SECTION / NOTIFIATION ?
(3) IF WE MANUFACTURE OUR OWN BRAND'S JEWELLERY, THEN IS THERE EXCISE DUTY APPLICABLE ON OWN BRANDED JEWELEERY MANUFACTURING ?
PL SUPPORT YOUR ANSWERS WITH CHAPTERHEADING / SECTION / NOTIFICATION.
THANKS
ANCKOORA.

Dear All

Ours is autoancilary manufacturing company used to purchase components from one supplier. Can we sale the raw material required by the supplier by purchasing it from other supplier as it cost cheaper to us? Can we gain some profit on it? What will be the Excise/Income tax implications?.

What will be the nature of transction ? Jobwork or pure Sale & Purchase

Thanks in advance

Suhas Deshmukh

Sir,
How to calculate the Debit Entry of Cenvat Credit on inputs and Capital Goods & Debit Entry of Input service Credit (i.e, credit utilized) ?
Kindly reply

Sir,
How to calculate the Debit Entry of Cenvat Credit on inputs and Capital Goods & Debit Entry of Input service Credit (i.e, credit utilized) ?
Kindly reply

I have seen the excise rate on canned softwares @10% somewhere in book of V.S. Datey, however the basic excise duty on other products is 8%
My query is to confirm whether the rate is 10% or 8% please confirm .