Credit of Excise duty in case of sales return
This query is : Resolved
18 May 2010
Hi
Whether credit of excise duty paid for sales which is subsequently returned is available? If yes, what are the conditions to be satisfied?
Whether credit of excise duty paid for sales which is subsequently returned is available? If yes, what are the conditions to be satisfied?
Kishor Darole
(Expert)
20 May 2010
Hello,
You can take Cenvat credit on returned sales Finished Goods maerial based on the Tax Invoice under Rule 16 of C.Excise. Rejection Register U/R.16 is required to maintain for local & For Export, you can add as Production in DSR/RG-1.
Stock is required to monitored for Rejection & during sales, availed equal or proportionate cenvat credit is required to Reverse.
Regards/ Kishor
You can take Cenvat credit on returned sales Finished Goods maerial based on the Tax Invoice under Rule 16 of C.Excise. Rejection Register U/R.16 is required to maintain for local & For Export, you can add as Production in DSR/RG-1.
Stock is required to monitored for Rejection & during sales, availed equal or proportionate cenvat credit is required to Reverse.
Regards/ Kishor
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