Menu
Manufacture
Sir,
My client in engaged in the business of producing iron wires and nails from iron rods.
1) Is this activity tantamount to manufacture and need to apply for excise registration?
2) If yes than whether central excise is applicable on wire & nail produce and what is the rate applicable on it.
3) Can it take cenvat credit .
Replies (2)
Hello sir, this is Prasanth
Regarding your query the production of iron wires is considered as manufacturing activity under section 2(f) of Central Excise Act,1944 hence registration for excise is needed however there is Threshold limit of 1.5crores turnover ,it is complusory to register only if such limit exceeds.
General rate of Excise duty is 12.5% can also be able to claim cenvat credit.
Hope this may solve your query😉
Regarding your query the production of iron wires is considered as manufacturing activity under section 2(f) of Central Excise Act,1944 hence registration for excise is needed however there is Threshold limit of 1.5crores turnover ,it is complusory to register only if such limit exceeds.
General rate of Excise duty is 12.5% can also be able to claim cenvat credit.
Hope this may solve your query😉
Thanks Prasanth
Recent Topics :
- Practical queries on buy back of shares
- Any faculty recommendations for latest batch recor
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
Related Topics :
CAclubindia
