Scrap sale
This query is : Resolved
13 September 2011
Dear all Experts
We are registered manufacturing company in excise. We sale Parts and accessories of the motor vehicles .CETSH No 87089900.we have rejected material of past few year our vendor not taken it back. We want to sell it as a scrap. We want to know what the process of scrap sale in the point of excise and what the procedure to sell it as a scrap.
Thanx and Regards,
Amit
We are registered manufacturing company in excise. We sale Parts and accessories of the motor vehicles .CETSH No 87089900.we have rejected material of past few year our vendor not taken it back. We want to sell it as a scrap. We want to know what the process of scrap sale in the point of excise and what the procedure to sell it as a scrap.
Thanx and Regards,
Amit
13 September 2011
Issue Bill with Excise and sales Tax and also charge TCS on sale of scrap.
Teriff heading of excise will be change as per Items
if Stainless steel srcap and miled steel scrap then Teriff heading 72044900
Teriff heading of excise will be change as per Items
if Stainless steel srcap and miled steel scrap then Teriff heading 72044900
Message likes :
1 times
15 September 2011
1) rejection after clearance of goods from factory site after payment of duty will not entitle you to get back the duty paid.
2) if the goods are entered in RG-1(DSA), then you have to ask the R/O for physical supervision of "destruction of finished goods" and reverse the input credit in RG23A-Part2 which is used for such goods.
3) other than above 1) & 2) you have to enter the scrap as bye-product in DSA(RG-1) and clear the same on invoice and pay duty on transaction value.
2) if the goods are entered in RG-1(DSA), then you have to ask the R/O for physical supervision of "destruction of finished goods" and reverse the input credit in RG23A-Part2 which is used for such goods.
3) other than above 1) & 2) you have to enter the scrap as bye-product in DSA(RG-1) and clear the same on invoice and pay duty on transaction value.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Opting our of sec 44AD
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Multiple trade mark
- FORM 26A APPLICABILITY
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
