It is stated that as per ICAI guidance notes, Exise duty provision is made on Finished goods having no effect on the profit & loss account, Is it true? what entries to be passed while making the provision of excise duty on FG. Please reply.

CAN SOMEBODY PROVIDE DETAILS REGARDING VALUATION OF MATERIAL AS PER CENTRAL EXCISE LAW WHERE MATEIAL IS FREE ISSUED BY THE CUSTOMER.

Dear Sir / Madam

We are manufacturer of excisable goods duitable and exempted goods and we are paying GTA inward ,GTA Outward, GTA Export outward Service Tax by TR-6

Now our questation is :

1 Can we avail credit of GTA inward & GTA Export Ser tax paid by TR-6 when we are producing duitable and exempted goods both ?

Pls reply ASAP

Keyur Vora

Sir As i am not a manufacturer and i am not registered with central excise department do i need to take a CT-1 form from the department for third party export.Actually i am a exporter holding IEC from dgft.

I have got an order from my foreign buyer. he has remited all amount in advance to me. Now i have contacted a manufacturer based in other state from my. I asked him to send all material directly from his factory to my buyer's destination.and for that i will pay him all the expenditure. I will Give him Invoice and mention his name in that as manufacturer exporter and mine as a merchant exporter (As Third Party Export).

I want to pay him in INR but he is telling without getting payment in USD he can't show the Export and if i want to pay him in INR then i should provide him CT-1 Form and Form H (Sales Tax)to get the benefit of exemption of Excise Duty & Sales Tax.

My question is, In this case Should I have to Provide him the CT-1 and H Form?

He raise a PI to me and mention my name as buyer and my client's address as Port of delivery.

In the amount column he mention Base amount of goods which is finalized between us and add Excise Duty and sales tax in that amount extra. and now if I will provide him CT-1 Form and Form H then he will deduct Excise Duty and Sales Tax From my Invoice.

He is the one who is manufacturing the goods, he is the one who is sending material directly to my client, Material will picked from his factory and landed at Loading (Sea Port) port and from there to Delivery Port (At my client place). I think for this purpose he doesn't required CT-1 and Form H from my side.According to my knowledge he Just need my sign and seal on ARE-1 (Which he will fill up and send to me) Form and Need a Export Invoice from my side mentioning my and his name in that Export Invoice.

We are new for this type of export so i need to know from the expert of this.

Pls this is very urgent for me.

I am procuring material of L&T through their Authorised dealer based in MP. Earlier He was quoting Price List Rates and giving discount on that rate. During invoicing He used to mention Basic Rate, Discount, and MP VAT. Now we want to procure the material on Net rate exclusive of discount & excise. Can dealer claim reimbursement of Excise Duty and Sales Tax in his Commercial Invoice.

Dear Sirs,

I am having some excise queries, as follows.

"A"- Company is located in Mumbai owener of brand say "DELTA" & Purchasing the goods from "B" Company with own brand sand sale it in market.

"B"- Company Is located in Delhi and manufacturing products with Brand "DELTA" for "A" Company and They dedicately manufacture this product only for "A" Company. They Can not sale this product in open market.

My queries are as foolows
=============================
1. A is Purchasing Goods with " DELTA" brand hence while removing goods froms "B" Factory Excise Duty is paid on on "B" s saleing price? Is it correct?

2)A is having Dealer Excise Registration in Mumbai. It is not always viable to bring the goods first to "A" s Company (Mumbai)and then disptch all over india. In that case.

- How to passon modvat to "A" s customer.
- Is it possibel to dispatch goods direct to the customer, from "B" s Factory to "A" s Customer.? What will be the procedure other thant E1 Transaction.

My query is regarding appeals part under excise
Fact:When a case is disputed between department and assessee as regards rate of duty and such case is still pending suppose at level of tribunal.under such circumstances as regards all the clearances assessee has to take stay of demand to prevent himself from repititive appeals.Now if an assessee has lost the case at level of tribunal and he wants to challenge it to high court/supreme court.
Query:-will he be required to take stay of demand again from high court

hello
My query is regarding appeals part under excise
Fact:When a case is disputed between department and assessee as regards rate of duty and such case is still pending suppose at level of tribunal.under such circumstances as regards all the clearances assessee has to take stay of demand to prevent himself from repititive appeals.Now if an assessee has lost the case at level of tribunal and he wants to challenge it to high court/supreme court.
Query:-will he be required to take stay of demand again from high court?

Sir but would u pls tell me is it possible to transfer the remittance in USD.What would i show in my account books regarding this.

I am a merchant exporter.I have taken a order from my foreign client and remittance has come in my account in advance. Now there is a pricing issue between me and my manufacturer based in Nagpur. Prices become high. My manufacturer advised me either we can do as third party export to have the same price and for this he is asking me to provide him ARE-1,CT-1 and Form H for sales tax department.my question is "All these forms would arrange by me as I am the "Third Party Exporter?"

And would it be possible that i can transfer the remittance for that particular item from my bank to his bank informing my bank that i am unable to do the export of that particular item and instead of me my manufacturer will export the goods directly to my client.