Rg 23 c update in case of non excisable transaction

Hi,

Want to know if RG23 A/C register update depends on tne nature of the transaction or nature of the entity.

For example, if I receive an excisable Item in an excisable warehouse, but the nature of transaction is non excisable (purchase from SSI, stock transfer from non excisable warehouse etc...) do we still have to update the RG 23 A register?

Since we are not paying duty, RG 23 part II will not be updated.

 

Please let us know the legal postion on this.

 

 

 

Replies (1)

 

Since 2001, RG23A/C are no more statutory records for the purpose of maintenance. However, the parties are maintaining the same for their accountal. These records are for inputs and capital goods respectively.

But you are also discussing stock transfer,which can be only in the case of manufactured goods. Your query appears to be vague.

 

Advocate Raksh*t Verma

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