Raw material goods removed as such
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 February 2014
I have purchased X goods for manufacturing purpose for Rs. 100 after paying duty of Rs. 2. I have booked CCR of Rs 2 that time but after that i have removed/sold that goods as such from the factroy to a other manufacturer of Rs. 105.
What should be the treatment?
1. Should I reversed the CCR, which I have already booked on purchased and cost of goods should be increased by Rs 2?
OR
2. Can I charge excise duty from the other manufacturer also and then setoff my CCR against it?
What should be the treatment?
1. Should I reversed the CCR, which I have already booked on purchased and cost of goods should be increased by Rs 2?
OR
2. Can I charge excise duty from the other manufacturer also and then setoff my CCR against it?
Arun Kumar Singh
(Expert)
14 February 2014
If goods will be removed as such then value addition should not be permissible. You have reverse then same duty have taken.
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