Get 3 Yrs of CCI Pro Membership at Greater Value. Subscribe Now!

If buyer reject the material what entry pass in seller a/c

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

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

Arun Kumar Singh

Arun Kumar Singh (Expert)

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