Lesser Quantity recieved

Hi,

My query is

A Company recieved certain excisable goods from company B, if B company has invoiced say 250 Kgs of some excisable commodity to A, but A company has recieved on 220Kgs of same goods and settled the transaction for amount equal to worth of 220 Kgs only.. Can A Company avail input excise credit for whole 250Kgs, as the invoice from B is claiming to have removed 250Kgs of product from its factory?

 

I came to know that the a company can avail full excise credit if final settlement amount is settled at lesser than invoice amount.. but i want to clarify if this facility is availble only for discounts or even for instance said above

 

Thanks in advance.. am waiting .... Ciao

Replies (3)

shortage of materials will account proportionate credit only. 

when materials are lost in transit, then duty also lost in transit proportionate way. so the buyer is entitled to take proportionate credit on actual goods received only.

it means to say, you only take credit for the product you input and not the product shown in the invoice.. so only the excise duty on product recieved or used for manufacture only can be tken as credit. Right?

 

 Yes perfectly right.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details