Madhukar N Hiregange's Expert Profile

Queries Replied : 1905

About me

Madhukar N Hiregange B.Com., FCA, DISA (ICAI). Passed CISA.

Senior Partner Hiregange & Associates having offices in Bangalore, Hyderabad, Vishakhapatnam, NCR/ Gurgaon, Mumbai & Chennai. Associated with few CAs across India as mentor. Faculty at Hiregange Academy a knowledge & employability initiative engaged in training industry officers, professionals, job seekers and students in IDT.

Jointly Authored 16 books on Central Excise, Service Tax, Karnataka VAT and Excise / Service Tax audit, IDT - IPCC Study Material- November 2015 Examination, Handbook on CST and GST- A Primer released in September August 2015.

Hiregange has been active in the field of spreading awareness through seminars & articles. Had been a visiting faculty at various Professional and Management Institutes including the IIM Bangalore. Active in online replies on several professional sites. Chief Resoruce person for Hiregange Academy , a knoweldge and employability initative.

Was a Central Council Member of the Institute of Chartered Accountants of India for the term 2010-13 & presently for the priod 2016-19 with a vision to enhance the credibility of the profession, strengthen the professional in practice and employment, make the course less painful while increasing the quality of the student coming out.

Managing Trustee – Empower Education Foundation. Sponsoring education of 120 + lesser privileged students in Bangalore. Believes in “Value Based Practice and Life”.

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Dharak says : SEZ Sales return
Dear All Expert We sale goods in SEZ unit before one year & we received proff of export form buyer & same submitted to excise department. now buyer want to return some material due to quality problem & demants to pay duty. I wants to know that is any procedure to they return material with payment of duty. when we sale this material in domastic market that we pay duty. pls suggest its urgent

Yashwant says : ARE1
Sir, pls. suggest me that is it necesaary today, to maintain and submit ARE1 Form in all colour code to Excise Authority? Is it ok to maintain submit on white paper only?

CA Shashikumar PN says : Duty Drawback procedure
Dear sir, can u explain the procedure of duty draw back - meaning,how it will be calculated & what audit steps we can follow while doing the audit wrt Textile Industry.

Vikram Hegde says : As such clearance Excise..
Sir i am doing audit of a manufacturing company. They purchase from one vendor (Base value Rs.100+ ED 10.3) And sell the same as "As Such clearance" to another supplier of them but they add profit margin i.e Material cleared as such will be at Rs.120(Base value 109.7 + ED 10.3 same as before)Profit of Rs. 9.7 that they have added has not been charged excise. Is it correct?

Baisakhi baid says : Cenvat refund under rule 5
Dear Sir Under earlier and new rule 5 of cenvat credit rules, 2004 Under rule 5 of cenvat credit read with notification 5/2006-time limit for claiming is as per section 11B (being 1 yr from the date of export) Mine case is that I have not availd cenvat credit for last 3 years. Now I have started workings for availing and distributing credit for past years So will that 1 year time limitation for refund would be counted only after the cenvat is availed (even for past 3 yrs) or is it necessary that the those cenvat must be related with my exports made during last 1 year only and not for past period export Thank you regards baisakhi