depot sales
This query is : Resolved
23 September 2009
if i am purchasing raw materials and then selling it to a party charging a trading profit on the same. now when i am purchasing i am paying excise duty and vat. what will be the consequences when i sell it to a customer.is excise duty to be charged on trading profit.can excise benefit be passed onto the customer.
23 September 2009
DEAR RAHUL,
YES YOU CAN PASS EXCISE BENEFIT TO YOUR CUSTOMER.
1 GET REGISTER WITH EXCISE AS DEALER
2 YOU NEED NOT TO CHARGE EXCISE DUTY ON YOUR TRADING PROFIT LIKE VAT. HOWEVER, YOU WILL BE REQUIRE TO FURNISH ALL YOUR PURCHASE DETAILS U/R 11 LIKE YOUR SUPPLIER'S NAME, EXCISE REGN NO. QTY PURCHASED ETC.
3. ON THE STRENGTH OF YOUR INVOICE UNDER RULE 11, YOUR CUSTOMER WILL BE ENTITLED TO AVAIL CENVAT CREDIT
DEAR RAHUL,
YES YOU CAN PASS EXCISE BENEFIT TO YOUR CUSTOMER.
1 GET REGISTER WITH EXCISE AS DEALER
2 YOU NEED NOT TO CHARGE EXCISE DUTY ON YOUR TRADING PROFIT LIKE VAT. HOWEVER, YOU WILL BE REQUIRE TO FURNISH ALL YOUR PURCHASE DETAILS U/R 11 LIKE YOUR SUPPLIER'S NAME, EXCISE REGN NO. QTY PURCHASED ETC.
3. ON THE STRENGTH OF YOUR INVOICE UNDER RULE 11, YOUR CUSTOMER WILL BE ENTITLED TO AVAIL CENVAT CREDIT
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