Excise Duty liability on Finished Goods sold out of Purchase
This query is : Resolved
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?
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
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- GST not cancelled by tenant
- Condonation . E-Verification of last year return .
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
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
