Excise Duty liability on Finished Goods sold out of Purchase
This query is : Resolved
Krishna kishore
(Querist)
08 September 2010
Manufacturer of Water Tank effects sale of Tank purchased from a dealer who is not liable to payment of Excise Duty. The Manufacturer Assessee does not claim CENVAT Credit on such purchased Water Tank as the invoice does not include Excise Duty. Whether the Manufacturer Assessee is liable to pay Excise Duty on sale of such purchased Water Tank?
Maninder Jain
(Expert)
09 September 2010
No duty on traded goods is payable.
Make sure you have two warehouse. One for storing manufactured goods & other for traded goods.
Morever please keep separate books for manufacturing & trading activity
Make sure you have two warehouse. One for storing manufactured goods & other for traded goods.
Morever please keep separate books for manufacturing & trading activity
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