Menu
Excise duty on scrap
We're going to purchase fly ashes from a thermal power manufacturing company as scrap. As per TCS terms we have to pay them additional 1% of total value with the purchase price. Then what will be the excise duty scenario since it is manufacturing aspect?
Replies (1)
Pl refer Indian aluminium case law, wherein it decided that, fly ashes are came out as process of purification and not a manufacturing scrap.
However, manufacturer will have to comply with Rule 6 of Cenvat credit rules 2004
Recent Topics :
- Representative assessee
- Investment Income as Business Income for Sec. 44AD
- In ITR 4 u/s 44ADA what amount we shoud show under
- Salary expenses how to treat
- Pos related issue
- Gift of unlisted shares to friend upon marriage
- Utilising Section 54(F) for capital gains reinvest
- GST ewaybill closure and Bill to ship to GST numbe
- TDS ON PARNTER INTEREST
- Share important chapters of ca inter costing
Related Topics :
CAclubindia
