18 January 2012
The manufacturer (A Ltd.) sold the goods on invoice to his customer (B Ltd.),in whcih consignee is Third Party (C Ltd.). I am the C Ltd. A ltd. levied excise on the goods soldon nov.,11 and C ltd. upon receiving the material from A ltd. with invoice,taken cenvat credit of the duty. And B Ltd. raise invoice on C LTd. after incresing value and accordingly excise duty on his invoice in jan,12. What will be the treatment of cenvat credit. On which invoice i will take credit. And whose invice is final on which i will take credit.
18 January 2012
B ltd. is also levied excise on the bill @10% after taking profit element. ANd B ltd. not received the material ,Material Received by the C Ltd. for manufacturing his finished prodcut, then how to say C ltd. is not entitled for Cenvat Credit
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