Excise reverse on short receipt of quantity
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 July 2016
Resp. Sir,
We are Manufacture Firm with Excise.
We have Purchased Raw Material from Dealer. (Excise Invoice)
There is some Shortage of material
Question: We would like to raise the Tax invoice to settle this shortage.
Q1. Do we require to give effect to EXCISE on a/c of short material received.
Example:
Supplier A/c Dr 100
Goods A/c Cr 80.00
Excise 12.5% Cr 12.50
VAT 5% Cr 04.50
(Being A/c debited for the 25 Kg short material received)
Please advise
Regards
We are Manufacture Firm with Excise.
We have Purchased Raw Material from Dealer. (Excise Invoice)
There is some Shortage of material
Question: We would like to raise the Tax invoice to settle this shortage.
Q1. Do we require to give effect to EXCISE on a/c of short material received.
Example:
Supplier A/c Dr 100
Goods A/c Cr 80.00
Excise 12.5% Cr 12.50
VAT 5% Cr 04.50
(Being A/c debited for the 25 Kg short material received)
Please advise
Regards
Rajannaidu
(Expert)
17 September 2016
Not required to be raised tax invoice.
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