For excise duty there are to provision for accounting. One for tax basis and other for accounts only.

For tax purposes what entry we should pass and what is the purpose for making such entry.

Thanks,
Abhishek
9953428119

My earlier company has been amalgamated with some other company and we have surrendered the Central Excise Registration to the department in the month of Sep-08 and on the 1St Oct’08 we got registered the company in the new name with new ECC number.

Further, there were some material in transit at the time of amalgamation process billed in the name of my earlier company form the suppliers.

My Query is –
1.If we receive the material in the month of Oct-08, can we take the Excise duty credit paid on the said material ?. If we can not take then what is the procedure to handle this issue, how do we satisfy to our suppliers ?.

2.As per the normal practice we take the duty credit on our own invoice (because our dealers and stockiest are not registered with Central Excise department, so they can not raise excise invoice for the sales return) accompanying with the Sales Return material.
3.Now, the company name has been changed with new ECC number, whatever SRN ( Sales return) we receive, it would be in the name of the earlier co (from which already billed). In this condition can we take the duty credit on SRN (Sales return ) or not ?.

Pls clarify

which books should be maintained for excise & to whom excise should be applicable

Hello Experts,

Our co. manufactures conveyor belts. Raw material used is all types of steel (M.S., S.S.). So what is the annual sale amount on which excise would come into existence for our company.

Dear Sir,
We have a case relating to EOU. Let me explain my doubt with an example. Our EOU have imported goods say @ Rs.41 per $, now our EOU wishes to sell the two-fifth of the quantity of materials to another EOU. Assuming that if the price of dollar has gone up to say Rs.47 per $.

1) Whether the transaction between these two EOU can be carried out in dollar terms?
2) Whether the goods can be virtually re-exported (Purchase return) to the Original supplier in abroad only by means of paper and the original supplier may in return issue a invoice in favour of the EOU who wishes to purchase the material and the goods will be originally removed from our EOU?
3) How the transaction between these two EOU can be carried out?
Plz clarify my doubt quickly. U can also reply to me on sr.sridhar85@gmail.com!

Is there any excise duty leviable on sale of imported scrap in the india

Wheather we can claim CENVAT Credit on counter-vailing duty paid on imported goods.

I have started consuction of factory building, can i take the credit of excise duty paid purchase of steel and cement.

AS WE HAVE REQUIRED TO DEPOSIT EXCISE WITH GOVT WITHIN 5TH OF EVERY MONTH . WHAT IS THE RATE OF INTEREST & PENALTY IF NONFILLING OF DUTY WITHIN STIPULATED DATE ?

WHETHER SSI EXEMPTION LIMIT RS. 1.50 CRORES INCLUDES SALES RETURNS/REJECTIONS. EXCIE PEOPLE VISITED TO MY CLIENT INDUSTRY IS NOT AGREEABLE FOR INCLUSION OF RETURNS. THEY SAY THAT ACTUAL CLEARANCE TO BE CALCULATED. WHAT IS THE CORRECT STATUS. PL. ANYBODY CLARIFY ME.

THANK YOU