Chargability and value of excise
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 February 2014
Dear Experts
Our process is like that we will assemble automobile testing system and then move it to customer place and charge rent from customer. Product will be fixed asset for our company.
My query-
1.Shall we pay excise duty on assembled product?
a.If Yes- How to calculate the value of excise duty because we are not selling it.
b.If No- Documentation for movement.
2. We will charge service tax on rent. can we take the benefit of excise paid on input material use for assembly against service tax.
Our process is like that we will assemble automobile testing system and then move it to customer place and charge rent from customer. Product will be fixed asset for our company.
My query-
1.Shall we pay excise duty on assembled product?
a.If Yes- How to calculate the value of excise duty because we are not selling it.
b.If No- Documentation for movement.
2. We will charge service tax on rent. can we take the benefit of excise paid on input material use for assembly against service tax.
Arun Kumar Singh
(Expert)
19 February 2014
You should consult with any professional for examine your issue. Upto the 1.5cr turnover no need to registered with excise. you can take the cenvat credit on inputs and input services if you paid the duty on final products.
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