Dear Friends,
I want to Know, that can we sale the Raw material in a company and raise the sale invoice in VAT/ CST, There is any objection to Excise and Sales tax department for sale the Raw materials to any other party.
Regards
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Sale of raw material
Replies (3)
no, u have to pass on the duty involved in such quantity and show sale as "Removed as such sales" in return and accounts.
Cenvat credit of excis/ST paid on such raw material needs to be reversed under rule 3(5B)
Yes, first we have to reverse CENVAT Credit as per Rule 3(b) of CENVAT Credit Rules, 2004 on "removal of goods as such" which is happen in your case.
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