Exempted Goods
This query is : Resolved
06 December 2016
We are doing the Business of Laying of Pipeline and Construction of Water Treatment Plant. we need to purchase the goods for water treatment plant. we have exempted from excise duty provided on submission of excise duty certificate from collector or district magistrate as per notification 12/2012.
But supplier contention is that they may supply the exempted goods subject to consideration of Rule 6(3) reversal of 6 percent I.e adding of 6 percentage to cost.
is it tenable.
can we need to reimburse additional 6 percentage?
is it tenable when supplier purchasing goods from other vendors and suppling to my company and even if supplier is getting good margin from sub vendors?
whether linkage of 12/2012 dates 17.03.12 is with 6(3) is correct?.
Please clarify me
07 December 2016
So far legality of reversal of CENVAT credit is concerned the manufacturer has to reverse the CENVAT credit as per rule 6(3) where final product is exempted from payment of excise duty.
The adding of 6% in invoice is dependent on your contract with the supplier and your negotiation.
The adding of 6% in invoice is dependent on your contract with the supplier and your negotiation.
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
- Opting our of sec 44AD
- Regarding TDS Applicability For Director Remuneration
- Regarding appeal to GSTAT
- Value of property in capital gain
- Form 121 & TDS deduction
- Multiple trade mark
- LC charges in relation to Asset purchased should be Capitalised ?
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Copyright software
- Transporter Declaration form
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
