Dear All,
Our Company received PAC from the party to whom material will be supplied.
Now i want to know, how to consider PAC while preparing Invoice. and whether we should not charge Excise Duty while preparing Invoice. ???
Our company is manufacturing company. Now we want to prepare Invoice without considering Excise Duty.
Is it correct not to charge Excise Duty because of PAC received ???
Please Reply Soon.
Thanks.
ImRaN Mansuri.
For exemption,see notification No.12/12, but you have to pay an amount equvilant to 6% of exempted goods cleared by you, if you are availiung Cenvat Credit.
Raksh*t, Advocate
09810525780
Dear Sir,
No duty will be charged. But before starting supply you have to inform to Central excise department along with a copy of PAC certificate. And do not forget to mention PAC certificate no. on all invoices.
CAclubindia
