13 February 2014
I have purchased X goods for manufacturing purpose for Rs. 100 after paying duty of Rs. 2. I have booked CCR of Rs 2 that time but after that i have removed/sold that goods as such from the factroy to a other manufacturer of Rs. 105.
What should be the treatment? 1. Should I reversed the CCR, which I have already booked on purchased and cost of goods should be increased by Rs 2?
OR
2. Can I charge excise duty from the other manufacturer also and then setoff my CCR against it?