Dear All,
Whether excise duty input credit can be availed on goods purchased for making second sales? v hav registered our company as Manufacturer for 2 items which does not include the said good which v hav purchased for 2nd sales.
Plz clarify me at the earliest, provide me the link if possible.
Thanks & Regards,
Sowmya.S
no credit is admissible
Raksh*t
advrcverma @ gmail.com
You can't take excise credit.
In the scheme of Central Excise Cenvat the credit is only available if the input is used in manufacturing of final product.Being so you are not entitled for input credit.
Dear Soumya
You can not avail input credit. However if your buyer is a manufacturer and goods are input for him, you can pass on the credit by registering yourself as First Stage Dealer. The net sale price in such case would be reduced.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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