COMMERCIAL INVOICE
This query is : Resolved
P.S.VISHWANATHAN
(Querist)
09 June 2009
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?
Madhukar N Hiregange
(Expert)
09 June 2009
The procedure is ok. You may also intimate the ACCE/DCCE of the same as a measure of caution.
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