03 January 2013
I have doubts in the excise on the following issues. Please clarify me. Is it required to be maintained by the manufacturer even now? The accounts manager who is looking after this says that these are all need not be maintained and it is old. Is it True? If not please tell me with the relevant rules or sections as the case may be. 1)Form IV register of receipt and issue of Raw Material. 2)RG23A Part I – For Accounting of Receipt of Raw Material 3)RG23C Part I – For Accounting of Receipt of Capital Goods 4)Records of inputs sent for job work outside the factor under Rule 57F(4)
5) The concern which i am assigned for audit is a manufacturing concern, they need to pay excise duty for the manufacture. Can they take service tax input credit on office maintenance expenses and administrative expenses for payment of excise duty? (please specify me the rule or section)
6) If the manufacturer avails any abatement services, then the service tax paid for the abatement services can it be take as service tax input credit for payment of excise duty? (please specify me the rule or section)
7) Can u please clarify me on the service tax input credit to be taken in case of transportation ( really confused about 25% and 75% and all)
8) Some of the goods sold are rejected by the customers. Those rejected Goods Cenvat credit is taken. the rejected goods are sold as scrap, for the scrap sales excise duty is paid. Department contends that Cenvat credit utilised for producing that manufactured goods should be reversed, therefore excise duty has to be paid on the goods returned by the customer as if it is good one. Is it true please provide me with the sections or case law.
Even on today it is necessary to Maintain RG23A and other register as described by you.all are basically ascertain goods movement and lint same with financial accounts.
So far as other questions are concerned it is not possible to answer without additional information, nature of work etc.
CAclubindia
