05 December 2013
Company "A" is manufacturer
Company "B" is Dealer
We ordered 35 kg material at rate 250 Rs/Kg++ to company "B" of make Company "A".
Company "A" supplied material directly @ 400 Rs/Kg++ vide their Duplicate for Transporter copy of Excise invoice.
We are Consignee & "B" as buyer.
Now issue is how to cenvat Excise as per our PO value?
How to reverse Excess excise charged by "A" and right way to take in account correct excise as per our PO rate of 250 Rs/Kg++.?
Do we need Invoice from "B" with same Rate as charged by "A" in their invoice & a Credit note for Excess rate of 150 Rs/kg++.
kindly guide
05 December 2013
there are two options. one is as you have expressed. Take bill of Rs.400/- from the dealer and then after ask for the credit note on account of excess billing Rs.150/-. Second book the bill as per your p.o. price i.e. 250/-. Take only the cenvat benefit as per Rs.250/- basis.
CAclubindia
