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.
Message likes :
1 times
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Missed uploading GST Invoice
- Query on effect of registration of property
- Movement of goods by packers and movers - type of sale - Reg.
- Wrong CMPo8 file
- GST on reimbursement of expenses
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
