Liability of exice

This query is : Resolved

BhaveshChawda (Querist)
Follow

14 October 2011 Sir
i m an accountant in a trading company who is going to start manufacture of some motor vehicle parts by introducing its new division for manufacturing we transfer the manufactured product from new division to trading unit by merely an entry of stock transfer and then the goods are sale to outsider by billing through trading unit.
will this adjustment can save the excise liability if no at which point excise liability arises.

PUNEET GOYAL

PUNEET GOYAL (Expert)
Follow

14 October 2011 In above case you are transferring manufactured goods from manufacturing division to trading unit and then from trading unit goods are finally sold to customer.

In that case you have to obtain Registration Number under excise as follow:

1. for manufacturing division as manufacturer.

2. for trading unit as manufacturer's depot.

And valuation of goods will be done under Rule 7 of Central Excise Valuation (DPEG) Rules, 2000 and accordingly you have to deposit excise duty at the time when goods will be removed from manufacturing division to trading unit.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

GOVIND VAJIRAJ DESAI

Ramulu Thakkalapally

RAVINDRA JOSHI

cgagroshg cgagroshg

velichety.l.narasimharao

Subscribe Now

Liability of exice

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANCY

Accountant

CA Final

GST CONSULTANT