What is ECC Number? Why is it used?

A firm purchases raw materials locally from Maharashtra on which it pays excise duty and VAT. After manufacturing, the finished product of metal sheet is intended to be exported.

My question is whether the firm has to first pay the excise duty on finished product produced and then claim refund or no excise duty is to be paid at all.

How to claim refund for excise duty paid on raw materials?

What formalities are required to be done to claim refund?

The firm has taken vat registration for vat refund and will be applying for IEC code.

My email id is get2amin@rediffmail.com
Regards
Amin

Dear freinds,
I wanted to know about Excise Tax rate on Gold and Silver Jewellery.

Please reply soon.

Dear Experts,
Already i have posted this query but no reply so far thats why i have posted it again. Pls reply me. Thanks for everyone who replied for this.
While auditing for a company or a firm if there is export sales or Form H Sales means As Per Rule 19(2) of the Central Excise Rules,2002 the manufacturer can remove the excisable goods without payment of duty.

But it seems there are many regulations to avail this benefit such as Form ARE-1 in case of Direct Export, Form UT-1 incase of Form H sales.

Also approval from Assisstant Commissioner of Customs has to be obtained for removing the goods without payment of duty.

PLEASE MENTION ME WHAT ARE ALL THE DOCUMENTS I HAVE TO VERIFY INCASE OF DIRECT EXPORT OR FORM H SALES.

With regards,
Rajesh

Dear Experts,
I have already posted this query but no reply for this, thats why i am again posting this query. Help me...Its very urgent...
1) How i have to calculate Excise Duty liability for a company?
2) What is the entry for recognizing the excise duty ?
3) what is the entry when it is passed on to the buyer?
The above queries given with an example:
Purchases---> Raw Material A Raw Material B
Base Price for A 1000 B 1200
Excise Duty for A80 B 96
VAT for A 43.2 B 51.84
Total for A 1123 B 1348
(rounded off to the nearest rupee)
Now after finishing the manufacturing process, the Company makes a Sale As per the Valuation Rules it is Rs.4500.

Sales ---> Finished Goods C
Base Price 4500
Excise 450
VAT 198
Total 5148
(rounded off to the nearest rupee)

Payment made to PLA Rs.300 so that he can remove the goods without any problem. Also give entry to the above.
Thanks for everyone who replied for this.
With regards,
Rajesh.

can we use the 100% cenvat credit on capital goods?

A partnership firm is intending to purchase raw materials from Maharashtra, manufacture and export the finished product of metal sheets such as AC parts, heating equipments parts, etc.

Whether SSI exemption of Rs.1.5 crore turnover is applicable to an exporter bec i hv heard from my friends that customs dept ask for the same. If yes, pl let me know the form of registration?

my email id is get2amin@rediffmail.com
Regards
Amin Keshwani

If at the time of manufacture goods were excisable but before removal goods became NON EXICISABLE.Whether duty will b payable and if yes what will b the rate of duty? Eg Date of manufacture- 14%
Date of removal- goods not mentioned in CETA?

Dear sir,

We are manufacturing Bakelite Handles for various industries. To some manufacturers we are suppling Bakelite handles with logo For ex PRESTIGE , We are suppling these handles to the original equipment manufacturer and he is using these handles in making his pressure cooker. we are not suppling these handles in the market to any traders. We are also manufacturing handles for other cooker and cookware manufacturers with out any Logo. Our sales are less then 1.5 crores . Now the querry is are we required to get our self covered under excise or is their any Liability of ours to deposit any excise.We are ssi unit isn't we are eligible for SSI exemption

Regards

Vinay Gupta

Dear sir,

We are manufacturing Bakelite Handles for various industries. To some manufacturers we are suppling Bakelite handles with logo For ex PRESTIGE , We are suppling these handles to the original equipment manufacturer and he is using these handles in making his pressure cooker. we are not suppling these handles in the market to any traders. We are also manufacturing handles for other cooker and cookware manufacturers with out any Logo. Our sales are less then 1.5 crores . Now the querry is are we required to get our self covered under excise or is their any Liability of ours to deposit any excise.

Regards

Vinay Gupta