Kind attention:
A ancilliary manufacturing company wants to sell part of its raw material to another company. Whether excise and vat is chargeable on sale price or the company can sell the same without charging the above duties
Murali srinivasan
Kind attention:
A ancilliary manufacturing company wants to sell part of its raw material to another company. Whether excise and vat is chargeable on sale price or the company can sell the same without charging the above duties
Murali srinivasan
If you are not coming under excise exemption, you need to pay excise duty u/s 3(5) cenvat credit rules
3(5) When inputs or capital goods, on which CENVAT credit has been taken, are removed as such from the factory, or premises of the provider of output service, the manufacturer of the final products or provider of output service, as the case may be, shall pay an amount equal to the credit availed in respect of such inputs or capital goods and such removal shall be made under the cover of an invoice referred to in rule 9:
Regards
Kumar
CAclubindia
