Hello friends & members ,
We have sold goods on 27.02.12 to X party on this day excise rate was prevalling 10%, after that said party rejected the said goods & returned us by invoicing @ 12% excise rate on 29.08.012.
Query is that they did right or wrong, means what rate they need to mention in invoice 10% OR 12%?????pls advice with necessary rules & section.................
Thanks & regards- Lokesh Pokharna
Read With Rule 16 of Central Excise Rules 2002, Rate is to be Taken as 10% Only.
Even Goods return After Expiry of 6 Months.
check the invoice issued by yourself and the buyer
he has to "reverse" the cenvat credit so availed, and not to pay the Excise:)
if he has paid , then the invoice is a fresh invoice for you and its sale by himself to you !!
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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