Trading Activity in case of manufacturer.
This query is : Resolved
19 December 2010
I am register as "Manufacturer" (Automobile component), paying duty at normal rate i.e. 10%. Now I like to Purchase oil from manufacturer (excise invoice) and sale it to other.
1. Can I collect excise at the time of sale?
2. Can I take cenvat credit against sale of this oil?
3. Can I continue these activity as ' Manufacturer' ? (Or apply for first/second stage dealer registration)
1. Can I collect excise at the time of sale?
2. Can I take cenvat credit against sale of this oil?
3. Can I continue these activity as ' Manufacturer' ? (Or apply for first/second stage dealer registration)
20 December 2010
You have to apply for dealer registration for oil.
I think , input credit is not allowed on oil.
I think , input credit is not allowed on oil.
20 December 2010
Please note that you are going to diversify your business by doing TRADING ACTIVITY in oil. It is nothing to do with your existing activity of manufacturing Automobile parts. Presuming that oil is not required in any manner in your existing manufacturing activity, you will require to take Dealer's Registration to carry out sand trading activity.
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