Hi

I have one query regarding import of goods.

When we import gooods which amount should be considered as purchase amount
1) Assessable value as per Bill of Entry
2) Invoice value of supplier

If we consider Assessable value as basic purchase amount then calculation of excise duty and other taxes becomes easy, but while making the payment to supplier we cannot consider assessable value we have to consider Invoice value of supplier.

Kindly clarify which value will be considered as basic purchase price.

If assessable value has been considered as basic purchase price and tax calculated (VAT/CST) on that amount is it the correct method or this has to be rectified?
What entries should be passed inorder to reflect invoice value of supplier as purchase amount?

Kindly clarify at the earliest since this clarification is required ASAP.

Thanks

Dear Sir,

1) I am working in foundry industries.in kolhapur.

2) I have Sale my Material to party with Excise Invoice in Aug.09

3) The Party Reject This material and send me return with their Excise invoice.

4) I have avail the Cenvat Credit of that material in Aug.09

5) But i can't enter this inword entry in Excise DSA Register.

6) I Can't Resale this Reject material to other party.Because,

7) After Rejection, My Material is as a Consumable (Raw Material)& i use this material in production process.

Pls.Kindly Guide me in above case & give me solution.

Thanking You,

Vinod Patil.

We have raised invoice to one of our customers, due to oversight rate is excess charged accordingly excise and VAT is charged excess. Please advise how to raise a credit note so that I get the credit of excise which we would be giving credit to the said customer.

Thanks and regards
Girish

Our supplier(100%EOU from Goa) indicates amount of Cenvat Credit to be taken from their invoices. This includes 4% additional customs duty piad by them at time of imports.
Excise department is asking reversal of this credit, under the pretext that this reversal is only available 07/09/2009.

Sir

1. We are a company based in TamilNadu.
2. We are registered with STPI, Chennai
3. Do we have to pay excise duty & sales tax on procurement of goods locally manufactured?
4. If we can claim exemption, what is the procedure for the same?
5. In case we can avail refund what are the formalities and procedure for the above?

pl tell me how many excise registers should be mentained by a dealer and form no. for submitting Excise return.

Thanks

Rakesh

Hello Sir/ Madam,

I am Vel. K. i am working in a steel manufacturing industry. in our factory, we are using " INGOT MOULDS" for manufacturing of M S INGOTS. Were as its is consumbale to us. but excise officers says it should be taken into capital goods. but the problem is that "INGOT MOULD" is become scrap with in 2 to 3 months, and i taken it as (Scrap) rawmaterial, and most important one i cant repair it in my industry.

In this regard i need your advice to account and clarify with excise people.

Thanks for reply, we r cable manufacturer & in manufacturing process ( innerseath) we use pvc compound ( PVC is our RM ) & scrap generated of pvc. after that we send pvc scrap for job work for conversion of PVC granuals & again use in manufacturing process.

We have exporter & we export on payment of duty & after that we cliam rebate. Our CHA has misplace original & Duplicate copy of ARE-1. We recast again the sipping bill & Bill of Lading from Custom department & take sig. on Blue copy of ARE-1 & claim rebate but excise department reject our claim & give us show cause. Can u suggest us what is the procedure & any such type of case for help us in reply against show cause. Pl. give us reply as soon as possible.

In the manufacuring process scrap is genrated, can we send these scrap for job work & again use for manufacturing process ?