CENVAT DUTY
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 June 2011
I'm a coal trader, buying coal thriugh e-auction held by MCL. From 1st march 2011 coal india have applied excise @5.15% onbasic price of coal. We pay to MCL in advance for coal including of all duties agaist which they issue us Road Delivery Order for lifting of coal. Now further we sell the coal to various sponge iron plants.
The sponge Ironplants are asking us for the excise invoice or else they are deducting the excise amount from the bill & do the payment.
Further the MCL is not issuing us any excise Invoice immediatey agaist of which we shall pass on the cenvat duty to the plants.
We are in confusion how to pass on the cenvat duty.
Please help
The sponge Ironplants are asking us for the excise invoice or else they are deducting the excise amount from the bill & do the payment.
Further the MCL is not issuing us any excise Invoice immediatey agaist of which we shall pass on the cenvat duty to the plants.
We are in confusion how to pass on the cenvat duty.
Please help
S.P.Mahanta
(Expert)
05 July 2011
MCL is subsidiary of Coal India Ltd( PSU). There shall be no problem in availing Cenvat Credit by Sponge Iron Plants on inv: of MCL attached with sale invoices raised by you (being neither manufacturer/dealer).This way Cenvat credit can be passed to manufacturers.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- GST on reimbursement of expenses
- Query on effect of registration of property
- Missed uploading GST Invoice
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Visiting card purchase
- Number of years as per AS amortisation of Goodwill
- Whether output tax is taken credit by purchaser
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
