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Excise

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(Querist)
15 August 2011 sir what is the difference b/w enactment , law and act.


will ED will be collected if goods got fire in the factory itself and is not able to come out of factory .plz tell with an example.
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U S Sharma

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U S Sharma (Expert)
16 August 2011 goods destroyed / got stolen / destructed, are not eligible for input credit,

only the goods which are used in production of taxable goods to be cleared on payment of duty are eligible for input credit.

hence input credit on goods destroyed in fire should be reversed, if input credit is utilised otherwise then it should be paid in cash.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
16 August 2011 I agree with the expert
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dinesh

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dinesh (Querist)
16 August 2011 thnk u sir.




Hare krishna
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