Respected Sir/ Madam,
I am working in a non-manufacturing retail firm and we have VAT registration but no excise registration, in the last week we bought a new item from a manufacturing company for the purpose of resale; the manufacturing company collected excise duty from us towards purchase and it is seeing in thier purchase bill, should I return CENVAT for excise credit and what procedure should we take when selling that product? should I collect excise duty from the customer? Please explain
If you are registered as a dealer with central excise then you can pass the cenvat credit to your buyer. Dealer can not avail the cenvat credit can only pass the credit.
If you plan, properly your supplier can directly send material to your customer, indicating consignee as your customer( billed to you), and your customer can avail CENVAT credit.
As It seems you are dealer. So no need to register under excise unless you are selling your product to manufacturer or you are requested by any customer to register for the same.
CAclubindia
