Related party arrangements
This query is : Resolved
Meet Vekaria
(Querist)
11 December 2013
E Ltd sells goods to S Ltd. Issues invoice in name of S Ltd as per Rule 9. But dispatches goods to I Ltd.
I Ltd again sells goods to S Ltd at higher price. Issues invoice only showing consolidated excise duty included in basic price.
S Ltd books invoice of I Ltd (one with higher amount) and gets the goods.
1) Is there any violation in CENVAT claimed by S Ltd on the basis of I Ltd invoice? (Cenvat amount will be same in both invoices)
2. Is there any consequence, cuz all E, S & I are related.?
Arun Kumar Singh
(Expert)
11 December 2013
S Ltd can take the cenvat credit on the basis of E Ltd invoice if goods is received in the factory.
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