Raw material sale to the supplier

This query is : Resolved

Suhas Deshmukh (Querist)
Follow

12 February 2011 Dear All

Ours is autoancilary manufacturing company used to purchase components from one supplier. Can we sale the raw material required by the supplier by purchasing it from other supplier as it cost cheaper to us? Can we gain some profit on it? What will be the Excise/Income tax implications?.

What will be the nature of transction ? Jobwork or pure Sale & Purchase

Thanks in advance

Suhas Deshmukh

Madhukar N Hiregange

Madhukar N Hiregange (Expert)
Follow

16 February 2011 If the same is an input then you could buy from x and sell it to y. The duty credit availed wouldhave ot be reversed as this is considered as an "as such" sale. This wouldbe a purchase/ sale transaction

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

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

Anoop KK

Ravi

HITESH NIRANJAN SAHU

kambamcr@gmail.com

siddhesh satardekar

Subscribe Now

Raw material sale to the supplier

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant