Purchase & sales of raw material & finish goods

This query is : Resolved

Rakesh Sharma (Querist)
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31 July 2013 We are the manufacturer of Pure Lead Ingots & Lead Alloys. I have the below mentioned queries :-

1) Can we sale raw material as such i.e.
trading.
2) Can we purchase finished goods & sale the
same as such i.e. trading.

Please advise by giving any case law.

Thanks.

CA UMESH DULAL

CA UMESH DULAL (Expert)
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31 July 2013 If the objectives of the entity allow such sale, then you can sale.

ADITYA

ADITYA (Expert)
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04 August 2013 I do not agree with CA Umesh Dulal, under excise you are manufacturer, and trading activity for the same products are not allowed.
You can do Trading Activity from the separate place (not the excise registered one), and also to keep separate books of account for both premises

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