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
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.
02 June 2010
No, u can not take credit on returned goods. u have to reverse the duty of 2 no.'s
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Under construction property in ITR
- Building tax payment deduction in rental Income
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Rental income of jointly held property
- Indian IT Portal issue in computing tax as per UK-India DTAA
- F & O PROFIT REPORTING FOR AY 2026-27
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
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
