Non amotization material supply by buyer
This query is : Resolved
26 December 2011
department issue the notice agst non amortization of value of dies spplied free of cost by buyer
we r sale to customer moulds &also paid the excise duty & our customer give the mould for production & we r not include the price but this mould issue by customer it not transfer the ownership .
give gudience how to handle the case
we r sale to customer moulds &also paid the excise duty & our customer give the mould for production & we r not include the price but this mould issue by customer it not transfer the ownership .
give gudience how to handle the case
U S Sharma
(Expert)
29 December 2011
you have to establish that such dies does not belong to you and after completion of each consignment the dies is returned to buyer, and again buyer sends back the dies to yourself with each fresh order.
remember that in no case the holding period of dies with yourself exceeds 180 days, otherwise department will stand their claim.
remember that in no case the holding period of dies with yourself exceeds 180 days, otherwise department will stand their claim.
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