30 September 2010
We are preparing the tax invoice in advance as material is not physicaly despatch on particular day which is laying on the factory premises. We are paying the Excise duty as well as vat in advance. Hence my question wheather it is correct or any objection under Excise, VAt & Income tax.
01 October 2010
It is not correct procedure and can lead to a number of issues in case of any surprise check. Suspicion that you maybe removing goods without payment of ED/VAT could surface. Ideally all together. Few hrs delay ok not Days.
CAclubindia
