Dear all,
may i know , whether excise duty is payable on lying dead stock in factory. Till date stock is not classified under any activity (scrap, removae to any party i.e sale).
What will happend of cenvat credit taken on input which was used to produced to final goods.
Excise Duty becomes payable on removable of Excisable products from Factory gate,Hence No excise duty is Payable on lying dead stock in factory.
On receipt and acceptance of exciseable inputs required for production of Final excisable output we can take credit on receipt basis (Duty paid on Inputs)in RG 23A part11.
Pls can ypu calarify me when there is some material which is arrived srcap during the commissioning of plant & machinery. But after some time that scrap is used for production of finished good. and we pay the excise duty on the finished good.
IS WE HAVE TO PAY THE EXCISE DUTY ON THE SCRAP WHICH IS GENERATED AT THE TIME OF COMMISSIONING.?
CAN WE CLAIM THE CENVAT ON THE SCRAP EXCISE WHICH WE PAY AT THE TIME OF PURCHASE OF MACHINE AND SCRAP IS GENRATED AT THE TIME OF COMMISSIONING OF PALNT.?
CAclubindia
