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?

If a Capital Goods like Machinery purchase & sold during the year. How can one take duty credit in that year. is full amount taken or 50% in one year & balance 50% in next year.

R.G.1 23 part C how can effects shown in reigster

The indirect taxes book by vaitheeswaran on the front page says "FOR CA FINAL/ICWA/CS MAY 2009/JUNE 2009 EXAMINIATIONS". My question is its says just may and june 2009, is the same book applicable for Nov 2009 exam also?

Hi!!!Can anyone gimme a clear distinction btwn ARE-1,ARE-3,CT-1,CT-3????All that I'm having is half and confusing idea of them.


Thankyou in advance,

Regards/-

Is Central Excise refundable to Merchant Exporter? If refundable what is the procedure? or if not is there any procedure by which we can produce a certificate and our supplier will not levy and excise?

We are Merchant Exporter, our suppllier charged us for sewing and filling cushion covers.

kindly reply as soon as possible.

I am working in one software company where the company is receiving work orders from customers alongwith hardware. We are subcontracting hardware to outside manufacturer who will raise excisable invoice on us, in turn we are raising invoice and charging vat (for both hardware and software which is installed in the hardware). The excise duty paid by us is neither passed on to the customer nor claiming input credit as excisable invoice is not raising. Can someone guide me to pass on excisable credit to the customer and if customer submits exemption certification how to pass on the same to subcontractor

Hi, We are manufacturers of intermediaries for Pharma products. We want to purchase a traded product which will be supplied to an EOU. As supply to EOU will entail no payment of CENVAT, how can we claim refund of CENVAT paid on the purchase of the traded product. Is there any procedure by which we can buy the traded product without paying CENVAT?

we are manufactura exporter
we need to send some sample of the product to the domestic party
wht procedure we have to follow to send the samples
have we to pay the excise duty and cst
or these samples can be send free of cost or on which paper these samples can be send

kindly advice