12 March 2009
We are purchasing goods from a trader who is in turn purchasing bulk durgs from manufacturer. We are also manufacturer in bulk drugs registered with Excise. The Trader from who we are purchasing goods is leving excise duty in his bill.
Firstly I want to know whether a Trader can collect excise duty.
Secondly I want to know whether there would be any difference in calculation for taking the excise credit (Set-Off) When we are Purchasing bulk drugs from a Trader vis-A-Vis Purchasing from the Manufacturer.
14 March 2009
Trader must be registered with Excise for passing on the credit. he may be levying duty in absence of knowledge, kindly check. Before taking credit, it is your duty to take precaution. No, there is no difference in taking credit; whether you buy from manufacturer or registered dealer.
CAclubindia
