ED on waste and scrap

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Accountant
28 Points Posted on 17 November 2007

Sir,

Incase of pharmaceutical product manufacturing, is required to maintained record and reverse the Excise duty on waste and scrap like glass bottle, al. foil , PVC film ..etc and empty container of raw materials generate during packing and after dispensing of raw material ?

 

Regards & thanks

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On 17 November 2007 at 09:56 Report
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Posted on 17 November 2007
yes definitely, u should maintain proper records for the waste and scrap
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On 17 November 2007 at 13:19
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ACA B.COM
7065 Points Posted on 17 November 2007
Yes, you have to maintain proper records for the waste & scrap. beacuse you have avail the cenvat credit on material. The waste & scrap arises from such material, i.e you have to reverse duty part on such scrap & waste material .
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On 17 November 2007 at 14:55
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Service
450 Points Posted on 21 November 2007
Dear Kirti, 1. you ahve to maintain separate record for waste and scrap. 2. if scrap is generated from the material on which you have taken cenvat you will have to pay ed on transaction value( value at which you are selling). not reversal of duty. 3 . if it is arises from material on which no cenvat has been taken then there is no requirement to pay ED.at all
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On 21 November 2007 at 09:38

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