excise credit on purchase return
This query is : Resolved
18 February 2010
purchase goods worth Rs.7500/- for 3 Nos.
Paid for the same Rs.8694/- (i.e.including Excise & VAT
Now if we return 2 Nos. only by way of issuing Debit Note for Rs.5000/- only, whether we can take Excise credit on returned goods
Paid for the same Rs.8694/- (i.e.including Excise & VAT
Now if we return 2 Nos. only by way of issuing Debit Note for Rs.5000/- only, whether we can take Excise credit on returned goods
Madhukar N Hiregange
(Expert)
19 February 2010
The inputs used in or in relation to manufacture only are eligible for credit. Goods which are returned are not eligible unl;ess they are repaiered/ reprocessed and received back.
ajay taneja
(Expert)
02 June 2010
No, u can not take credit on returned goods. u have to reverse the duty of 2 no.'s
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