Differential excise duty on stock transfer
This query is : Resolved
25 December 2012
Manufacturing unit transfers goods to its branch at the rate of Rs 40000 per MT after paying duty but branch actually sold the goods at the rate of Rs 45000 per MT. Whether there is any liability to pay additional duty on Rs 5000
25 December 2012
Section 4(3)(c)(iii) provides that in case of sale at depot/consignment agent, the depot/place of consignment agent will be the 'place of removal' as per section 4(3)(cc), in case of sale from depot/place of consignment agent, 'time of removal' shall be deemed to the time at which the goods are cleared from factory. so, duty will be payable at the rate of Rs. 45000 per MT.
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