Issue of Invoice by First Stage Dealer
This query is : Resolved
20 May 2009
My father wants to become First Stage Dealer. How can my father issue invoice to purchaser so that he can avail CENVAT Credit and also the gross margin of the business is not disclosed to the purchaser.
Suppose, 5 item purchased for Rs. 2,10,000. One item is sold for Rs. 45,000. Whether my father can issue bill for total of Rs. 48,460.8 i. total of Rs. 45,000 and proportionate excise duty of Rs. 3,460.8 (8.24% of Rs. 42,000)
Suppose, 5 item purchased for Rs. 2,10,000. One item is sold for Rs. 45,000. Whether my father can issue bill for total of Rs. 48,460.8 i. total of Rs. 45,000 and proportionate excise duty of Rs. 3,460.8 (8.24% of Rs. 42,000)
Madhukar N Hiregange
(Expert)
25 May 2009
The excise duty charged can be used to workbackwards the purchase rpice and the amrgin wouldbe known to the buyer. Buying at gross rates and then taking dicounts would shield the margin to some extent.
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