Some inputs ande capital goods and steel items are brought into the factory but no cenvat credit is availed. How are they to be cleared under excise invoice under rule 11 with a remark no cenvat credit availed or under cover of trading invoice. If cleared under Excise invoice how are they to be reported in the ER1?
Menu
Brought out goods on whichno cenvat availed how to clear?
Replies (3)
If you are not a manufacturer as per Central Excise provisions foor the sold goods and you are not transferring Cenvat Credit as a dealer, then there is no need of issuing invoice under rule 11. Tax invoice is enough with applicable VAT/CST. This sale is not required to be disclosed in excise returns.
But Cenvat Credit on common services may be reversed proportionately under Rule 6 of CCR 2004
The querry is related to a manufacturer who is registered under Central Excise and Service Tax.
Recent Topics :
- Practical queries on buy back of shares
- Any faculty recommendations for latest batch recor
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
Related Topics :
CAclubindia
