banner_ad

Debit Note & Excise part

1208 views 3 replies

A company purchased  material (100 Nos.) during Feb.'10 @ 8% Excise Duty.

But 5 Nos. are damaged or rejected during inspection.

If we send back the material (5Nos.) to the seller  in March'10.

What is the rate of Excise Duty we have charged. Whether 8% as availed or

10% as current rate of excise duty.

what is the exact procedure.

Thanks

Replies (3)

dear

                     proportionate duty to be debited. as you received (rate of duty) same duty to be debited. no question of current rate of duty or any. just to pass on duty.

In this scenario you are returning the duty credit availed as the goods are returned and not utilized. So it will go back as much as you have availed. Nothing to do with the current or any other prevailing rate.

Dear, the basic thing is that you have not utilised the duty amount. So, you have to pay the duty amouount as you have taken credit.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details