Scrap Sales
This query is : Resolved
03 May 2011
Pl. provide your valuable opinion whether below material is excisable or not
High Tensile galvanised steel wire
MS Binding wire
M.S. Mixed
Plastic scrap
MS belts rolling mill scrap
wooden scrap battens etc
MS Barrels
Used Oil Scrap
Paper Scrap
What are the excise duties & ass. value to be declare on above.
High Tensile galvanised steel wire
MS Binding wire
M.S. Mixed
Plastic scrap
MS belts rolling mill scrap
wooden scrap battens etc
MS Barrels
Used Oil Scrap
Paper Scrap
What are the excise duties & ass. value to be declare on above.
Madhukar N Hiregange
(Expert)
03 May 2011
If the same arises in the course of manufacture of excisable goods yes.
Raw material containers may not be liable.
Raw material containers may not be liable.
CA Navin Jain
(Expert)
03 May 2011
IF SCRAP GENERATED DURING THE PROCESS OF MANUFACTURING THEN EXCISE, VAT AND TCS ARE LIABLE ON SALE OF SCRAP
Durga prasad Ambati
(Expert)
03 May 2011
Dear Prashanth
If the Scrap Generated from Manufacturing Process it will be liable to pay Excise duty.
The Assble Value is Depends upon "PRESENT MARKETABLE VALUE of THE ABOVE SCRAPS"
First Decide market value of the scrap and then levy central excise and other applicable taxes on it.
IMPORTANT : Ensure The above scraps are generated form Manufactruing process only. then only you have liable to pay excise duty.
If the Scrap Generated from Manufacturing Process it will be liable to pay Excise duty.
The Assble Value is Depends upon "PRESENT MARKETABLE VALUE of THE ABOVE SCRAPS"
First Decide market value of the scrap and then levy central excise and other applicable taxes on it.
IMPORTANT : Ensure The above scraps are generated form Manufactruing process only. then only you have liable to pay excise duty.
03 May 2011
it may be possible u can get some exemptions for excise duty in any of the above scrap but it depend upon the manufacturing process or the final product u r getting along with the scrap
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