The company is manufacturing excisable product. The company availed the cenvat credit on raw material and on capital goods. Suppose company having balance in PLA say 50Lacs on 31.03.2009 and after words in 2009-2010 that excisable product ( finished goods ) is exempt from excise duty. Then balance in PLA account is refundable to the company or the company will not get the refund of that amount lying in PLA account

Dear All,

A Manufacturer imports some materials, and send the same to his sister concern and passon the basic excise duty and additional duty. passing of additional duty is wrong or right. please advice and give me the references if any.

Dear Expert/s,

We are a battery manufacturing Co. and Registered with Central Excise.Now we want to sold our own product with M.R.P mention on the Packing Box.
Hence I request you to all please tell me the procedure to fix M.R.P
With Regards,
R.Dutta

while doing a stock valuation, we have make 100% write off provision on Non-moving items.Now my query is that, as per CENVAT credit rule 2004(rule no-3(5b), i have to pay the excise duty on such written off amount ? & when in future, while using such items in production process I can take a CENVAT credit ?....
Plz Help Some Body........

Hi,

One of my client is in the business of import. He import MEG and sale in India.He claims custom duty refund of additional custom duty paid. He is in purely trading. No manufacturing is done on his part. Whether he is liable to file excise return?whether i am correct in interpreting that as per Rule 9(8) of CENVAT CREDIT RULES,2004 He is liable to file quarterly return? Is there any laibility to file return in Custom Act?Please reply soon.

dear all

We are saling one product. the prodct P.O. is open m which has not mentioned any specific date of closing order. they have issued seprate order of design & devolopent charges.we are issuing sale invoice against devolpment & design charges with include service tax.
is it correct?

Because of I heard excise duty will be applicable on devolpent / design charges & devolpent charges are dividing per quatity product & add excise duty in issuing prodcut invice, which has issued with excise.

kindly give the suggestion on same issue
. if excise applicable on devoplent charges, it is double taxation.

Hi,

We were purchased the DG set in the year 1989 and sold the same in the year 2008. So at the time of sell the DG set in 2008, Is it require to levy excise duty on DG set or not?

Pls. clarify the same.

Thanks
Sanjay

WE ARE REGISTERED UNDER CENTRAL EXCISE. A PARTY HAS PLACED A COMPOSITE ORDER FOR A COMPLETE MACHINERY LINE. WHICH CONSISTS OF THREE IDENTIFIABLE MACHINE. DUE TO THEIR SIZE THEY NEED TO BE TRANSPORTED IN THREE VEHICLES AND INDIVIDUAL EXCISE INVOICES NEED TO BE RAISED AS BREAKUP PRICES ARE AVAILABLE AND INDIVIDUAL LOTS HAVE DISTINCT IDENTITY. THE PARTY NEEDS A SINGLE INVOICE COVERING THE ENTIRE ORDER PLACED BY THEM TO ENABLE THEM TO GET THE FINANCING FROM BANK AND TO AVAIL SUBSIDY. IN THIS RESPECT WE HAVE NO ALTERNATIVE BUT TO RAISE THREE EXCISE INVOICES AND A COMMERCIAL INVOICE COVERING ALL THE THREE INVOICES. THE EXCISE CREDIT WILL BE TAKEN ON THE STRENGTH OF EXCISE INVOICES AND THE ACCOUNTING WILL BE DONE ON THE STRENGTH OF THE COMMERCIAL INVOICES. IS THIS PROCEDURE OKAY?

I have one unit whose turnover in f.y. 2008-09 is Rs 103 lacs. From april-09 to date date its approx Rs 93 lacs. I have not file declaration for ssi exemtion. Is it required to file declaration? is there any penalty for that? When I am required to registered? Please advice

A manufacturing while selling goods in this form:

Sales Value: 100
Excise Duty: 8

Total 108

Here, co passes sales entry as:
Party A/c Dr 108
To Sales A/c 108

& after month end it passes entry for excise liability as:

Excise Exp A/c Dr 8
To Excise Payable 8

Now, I wants to know that whether it is must to do pass entries this way or Company can alternatively pass entries as:

On Selling Goods:

Party A/c Dr 108
To Sales 100
To Excise Payable 8

Payment at Month end for excise:

Excise Payable A/c Dr 8
To Bank A/c 8

Can u pls tell which of these two methods is required to be followed as per Excise rules?