Duty on scrap sales
This query is : Resolved
kalyan chakravarthy
(Querist)
02 November 2011
we manufacture of pain balm we use to get the raw materials in barrels, and GI barrels, and for packing materials in corrugated boxes, we are taking cenvat credit on input of master cartons and we are selling the master cartons in scrap sales and we are paying the sales tax for sale of barrels, corrugates boxes
kindly let me know weather we have to pay the excise duty also for the same if so what is the duty payable and how to account it
kindly let me know weather we have to pay the excise duty also for the same if so what is the duty payable and how to account it
U S Sharma
(Expert)
02 November 2011
when input credit is availed, scrap is dutiable and duty has to be paid on transaction value of scrap so cleared.
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