High rate charged by manufacturer
This query is : Resolved
05 December 2013
Company "A" is manufacturer
Company "B" is Dealer
We ordered 35 kg material at rate 250 Rs/Kg++ to company "B" of make Company "A".
Company "A" supplied material directly @ 400 Rs/Kg++ vide their Duplicate for Transporter copy of Excise invoice.
We are Consignee & "B" as buyer.
Now issue is how to cenvat Excise as per our PO value?
How to reverse Excess excise charged by "A" and right way to take in account correct excise as per our PO rate of 250 Rs/Kg++.?
Do we need Invoice from "B" with same Rate as charged by "A" in their invoice & a Credit note for Excess rate of 150 Rs/kg++.
kindly guide
05 December 2013
there are two options. one is as you have expressed. Take bill of Rs.400/- from the dealer and then after ask for the credit note on account of excess billing Rs.150/-. Second book the bill as per your p.o. price i.e. 250/-. Take only the cenvat benefit as per Rs.250/- basis.
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- Tax on Deemed Capital Gain
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
