If buyer reject the material what entry pass in seller a/c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 September 2012
Dear Sir/Mam,
I am working with mfg. co. We manufacture the Auto Parts. we sailing the auto parts. But some times Our buyer Reject our material.And they reject our material which already received buyer and they also reject our material which is our Warehouses.After rejection the material from buyer we are issue that material to our plant for reprocessing.
My query is what entry pass in our Excise records and how we maintain the FORM V register which is related to Rejected material.And how we make the entry in FORM V..
Please solve my Problem.
Thanks & Regards
Yogesh Kr. Rajput
I am working with mfg. co. We manufacture the Auto Parts. we sailing the auto parts. But some times Our buyer Reject our material.And they reject our material which already received buyer and they also reject our material which is our Warehouses.After rejection the material from buyer we are issue that material to our plant for reprocessing.
My query is what entry pass in our Excise records and how we maintain the FORM V register which is related to Rejected material.And how we make the entry in FORM V..
Please solve my Problem.
Thanks & Regards
Yogesh Kr. Rajput
26 October 2012
If your products is return to the factory as such, you will take the cenvat credit on that return goods as an input. after re-processing you can clear the goods. If return goods is scrap then at the time of clearing the scrap pay the excise duty.
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
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Regarding TDS Applicability For Director Remuneration
- LC charges in relation to Asset purchased should be Capitalised ?
- Transporter Declaration form
- FORM 26A APPLICABILITY
- Value of property in capital gain
- Copyright software
- Opting our of sec 44AD
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
