Dear all Expert
we are taking input credit & also cleared input. but in that case we taking high rate bcz of that our ass. value is more but we debit duty as per credit taken. we take high vlue bcz of profit margin. but it is ok or what we do in that case?
Thanks & regards
sachin Adsul
Your transaction is coming under 'Clearance of inputs as such'. In this case you are reversing the cenvat credit what you have availed from the same input. It is OK. Transaction Value is need not considered for valuation of Excise Duty in this case.
Transaction value can be higher and hence the invoice can show a higher value. However, the amount of duty paid shall be equal to the cenvat credit taken.
BANSAL YOGESH AND CO
Gautam Budh Nagar
B.Com
View Details
VIKAS VERMA & CO
New Delhi
Others
View Details
Chirag N Shah & Associates
Mumbai
CA Inter
View Details
VNSS & Co
Mumbai
Others
View Details
CAclubindia
Pro
Modal body text goes here.
CAclubindia
