Querry in excise applicability
This query is : Resolved
16 July 2012
There are two companies for example X and Y and x company is manufacturer of bunk house and having excise number. X sale bunk house to its subsidiary Y as well as others. Now from 01/04/2012 X merged in to Y.Thus now X becomes mafg. division for Y. Bunk House which X sell to Y become assets for Y Company and its in field of service sector, Thus my question is
1.whether excise applicable on any sale transaction with Y ?
2.How valuation rule apply and procedure for CENVAT utilization in case of X ?
1.whether excise applicable on any sale transaction with Y ?
2.How valuation rule apply and procedure for CENVAT utilization in case of X ?
17 July 2012
Yes, excise duty is applicable for transfer of goods to your trading division.
Please follow the Excise Valuation Rules for details. Your Mfg Division "X" will get the Cenvat credit for the inputs .
Please follow the Excise Valuation Rules for details. Your Mfg Division "X" will get the Cenvat credit for the inputs .
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