Diposal of FG which is not marketable now
This query is : Resolved
12 January 2011
We would like to dipose some FG which is very old and not marketable. Plesae let us know the proceedure to dipose the same
Also let us know the duty rate and calculation of value for the same
Also let us know the duty rate and calculation of value for the same
12 January 2011
Marketability of goods is decided under excise as over all basis. It is not deceided on individual basis.
Duty will apply on disposal of FG.
Duty will apply on disposal of FG.
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Kishor Darole
(Expert)
13 January 2011
Dear Mahendra,
The disposal of old FG goods is called as a "FG write-off" which will be on payment of duty with the Transaction value i.e. present market value or nearest sale value.
Raise the Tax Invoice & pay duty from Cenvat credit or PLA Account.
Regards
Kishor Darole
The disposal of old FG goods is called as a "FG write-off" which will be on payment of duty with the Transaction value i.e. present market value or nearest sale value.
Raise the Tax Invoice & pay duty from Cenvat credit or PLA Account.
Regards
Kishor Darole
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