Excise applicability on goods return
This query is : Resolved
15 November 2011
Dear Sir,
After crossing basic excise exemption limit of 1.50 crores and took the regn no.in Oct 11, we came under excise and started charging the same from 18.10.2011, to our customers. Now, a customer is returning back the goods which were sold before excise was applicable. Pl. guide me, how to make entries in excise records ?
Also, this returned goods, we want to return to the party from whom we had purchases at that time. Pl. guide me how to clear this goods for that party from excise point of view ? ? Do we havt pay excise while sending back the goods to the aprty from whom we had purchased ?
thanks
anckoora
After crossing basic excise exemption limit of 1.50 crores and took the regn no.in Oct 11, we came under excise and started charging the same from 18.10.2011, to our customers. Now, a customer is returning back the goods which were sold before excise was applicable. Pl. guide me, how to make entries in excise records ?
Also, this returned goods, we want to return to the party from whom we had purchases at that time. Pl. guide me how to clear this goods for that party from excise point of view ? ? Do we havt pay excise while sending back the goods to the aprty from whom we had purchased ?
thanks
anckoora
U S Sharma
(Expert)
15 November 2011
as mentioned by you, you have to return the returned goods to your seller, means this is not your manufactured goods.
no excise impact on this case.
no excise impact on this case.
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