Dear Experts,
My comany manufactures an excisable product. The product is exepmt from payment of duty under certain notification. Due to lack of storage space, we want to remove such exempt finished goods outside the factory for storage purpose. The goods are intended to be stored in a private wareouse after removal. The goods will be returned according to need and will be sold from factory itself. Option we are thinking upon is showing Removal under 4(5)(a) considering the stoage premises as Job Worker and showing its return within 180 days. Some process, say Sorting & Re-packing, can be shown at Job worker's premises for this purpose. My queries are-
1) Is above method of removal is correct?
2) Is any intimation/permission is needed from dept if above method followed?
3) What are the other options available for achieving above removal and details about that.
Please reply.
CAclubindia
