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Excise duty in case of non-manufacturing firms

EXICSE (Legacy) 942 views 5 replies

AYOOBKHAN

Accounts Officer

52 Points Posted on 28 December 2013

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

Replies (5)

Arun Kumar Singh

GST Advocate

15220 Points Posted on 28 December 2013

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.

VIKASH KUMAR JAIN

Audit Executive

711 Points Posted on 29 December 2013

Only first stage and second stage dealer can pass on excise credit, if excise registration exist.Proportionate credit to pass on based on retail sale against purchase invoice.

Raneez

accountant

40 Points Posted on 04 January 2014

Sir How to show raw material and finished goods STOCK lying FIGURE in A SSI UNIT crossed 1.5cr, WHICH HAVE TAKEN EXEMPTION LIMIT UPTO 1.5 CR IN ER- 3 RETURNS, UNDER COLOUMN NO.6 DETAILS OF CENVAT CREDIT TAKEN AND UTILIZED.WHETHER IT SHOULD BE TAKEN AS OPENING BALANCE OR IN CREDIT TAKEN ON INPUTS ISSUED BY MANUFACTURES. PLEASE HELP ME ...... Thanking You Raneez

Dilip Darji

392 Points Posted on 04 January 2014

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.

karan jit singh

Consultant

1299 Points Posted on 04 January 2014

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.