Sir,
Please explain the RG 23D Register. Provide me its illustrative Format. and How it is maintained. Its very very urgent

Thank you in advance

We manufacturing Tractors for agriculture purpose as well as supplying the Tractor Parts to our customers from our Spare Parts Division situated in the same premises on one registration no. in Central Excise Department from 1st June-06 under cover the notification No. 14/2008-C.E.(N.T.), dated 1.03.08. Tractor is exempted for the payment of Excise duty and the “Parts, components and assemblies of any automobiles “are liable to pay the duty.

For the fulfillment of purpose of supplying the ‘Spare Parts of Tractor’ to the customers, we procure the material from the supplier’s in our “Spare Parts Division” those who are supplying the material to our Tractor Manufacturing Plant also and sale those parts to customer after availing the Excise duty credit paid on them through our Dealers and Stockiest after discharging the Excise duty on the basis of MRP declared under cove the above said notification and The Standards of Weight & Measures (Packaged commodity )Rules, 1977.

Most of all suppliers are discharging the Excise duty on their Transaction Value and declaring the same time on the Invoice “ Exclusively for Industrial use as raw material “ and some of them are on the MRP.

Some times we procure the material from the suppliers those who are not registered with Central Excise Department or may be they are availing the SSI exemption, means ( they not charge the duty while supplying to us).

My Query is –
1.Can we clear the parts purchased (without availing the duty credit) without charging the Excise duty to our customers? or,
2.Being deemed manufacturer ultimately we have to discharge the duty or not.
3.In case of suppliers who are discharging the duty at their end on the basis of MRP on their own, can we break the MRP label and fix our MRP?.
4.Those who are discharging the duty on transaction value at their end, are they doing the right practice or what should they do ?.
5.Is the Tractor Accessories are exempted for the payment of excise duty as per the above mentioned notification?.

OR

What is the right procedure, we can follow ?

Dear All, Experienced

Pls. Clarify, it would be great help to us.

Regards
Sanjay Sharma

WHAT FORM F MEANS & IT IS WRITTEN ON THE PURCHASE BILL IF PURCHASE IS ON CONSIGNMENT.

i want to know some thing about excise.can anyone help me.

we propose to set up a unit for plated circular coin blanks. The base material for the coin would be steel on which we would do coating of alloys of copper and nickle.What would be excise duty liabilityand whether both the activity that coin making and plating would be treated separate manufacturing ?

SSI Unit registered under Central Excise CENVAT doing Exciseable Turnover less than 100lakhs each year for past five years. Non-Exciseable Turnover of about 100 lakhs which is "AS SUCH" SALES. No payment has been made in the PLA Account.
And Now surrendered the number year ending March 2008. After 3 months the Excise Audit Call has come from the department.
Is the Excise Audit applicable in this case? Please suggest.

can any one give me list of accounting entires for cenavt & PLA entires

Sir,
When a excisable unit does job work for a non excisable unit how the transaction will be calculated?
Eg: E does job work N. E gets the material from N (procured by N for Rs. 100) and sends it back to N for Rs. 150. N sells the final product for Rs. 200. What will be the transaction value in this case for levying excise duty?

Plese study the following case and guide me about proper treatment:

There are two sister concern,say A and B.Both deals in chemicals.But the manufacturing and sale of B is very less.now Company A supply certain raw material to company b for certain job work and then received back the final manufactured product.For that purpose Company A provides certain job work charges to company b after deducting TDS.
Now company A claim that it is not liable to pay the exice duty because it has not manufacturer but the actual manufacturer is Company B.So Company B is liable to Pay the Duty. But Total sales of company B does not exceed then Rs 15000000/-. So there is no any liability of Co B to pay the Duty.
Now I want to ask that Whowill be deemed as a manufacturer whether Company A or B and who will be liable for duty.

Thank You

Ankit Kansal

At the end of the financial year we have some quantity of finished stock. For valuation of finished stock excise duty is not added.


I know that on the finished stock provision for excise duty is to be made as liability arises as soon as the manufacuting is completed BUT payment is postponed to the date of delivery of stock to customer.


My question in this regard is :


1)What is the journal entry that needs to be passed on 31 March for making provison of excise duty?


2) Should the amount of debit entry suggested in above journal entry be added to the closing finished stock?


3)What is the journal entry to be passed in the next year to reverse the provision?


4)Should any disclosures be made in notes to accounts in above scenario?

I request the caclub member who are in manufacturing industry or have done audit of manufacturing industry to please answer my above questions.


Please answer questionwise. Thanks.