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
- House Property Reporting in ITR
- TDS Claim year
- Relief u/s Section 89
- Rent lease agreement
- TDS Challan Code
- CCFS 2026 Schemed
- Entries in AIS regarding sale of units and shares
- Lease agreement and tax on sale
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- Sales amount in Gstr1
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Suggestions required for income tax filing-software (FY 2025-26)
- Tax liability on income of freelancer
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Taxation on LTCG for property sold after 24JUL2024
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
