Sir,
When a excisable unit does job work for a non excisable unit how the transaction will be calculated?
Eg: E does job work N. E gets the material from N (procured by N for Rs. 100) and sends it back to N for Rs. 150. N sells the final product for Rs. 200. What will be the transaction value in this case for levying excise duty?

Plese study the following case and guide me about proper treatment:

There are two sister concern,say A and B.Both deals in chemicals.But the manufacturing and sale of B is very less.now Company A supply certain raw material to company b for certain job work and then received back the final manufactured product.For that purpose Company A provides certain job work charges to company b after deducting TDS.
Now company A claim that it is not liable to pay the exice duty because it has not manufacturer but the actual manufacturer is Company B.So Company B is liable to Pay the Duty. But Total sales of company B does not exceed then Rs 15000000/-. So there is no any liability of Co B to pay the Duty.
Now I want to ask that Whowill be deemed as a manufacturer whether Company A or B and who will be liable for duty.

Thank You

Ankit Kansal

At the end of the financial year we have some quantity of finished stock. For valuation of finished stock excise duty is not added.


I know that on the finished stock provision for excise duty is to be made as liability arises as soon as the manufacuting is completed BUT payment is postponed to the date of delivery of stock to customer.


My question in this regard is :


1)What is the journal entry that needs to be passed on 31 March for making provison of excise duty?


2) Should the amount of debit entry suggested in above journal entry be added to the closing finished stock?


3)What is the journal entry to be passed in the next year to reverse the provision?


4)Should any disclosures be made in notes to accounts in above scenario?

I request the caclub member who are in manufacturing industry or have done audit of manufacturing industry to please answer my above questions.


Please answer questionwise. Thanks.

For the Last Financial Year 2006 - 2007In our comapny we expensed cenavat poration as purchase cost ( Excie Duty + Education Cess ) but as per Excise records Cenvat Credit Taken .so my query is how do i reconcile cenvat with Accounts & Excise records

what do you mean by central government in excise law?

We are the manufacturer exporter through our Indian customer CT-1. The cenvat on raw material purchase lying unutilised. Can we purchase raw material through CT-3 (without excise duty)?

What is the procedure/guideline ?

I purchase capital goods.
that invoice have excies duty and vat.
can i avail cenvat credit both excies duty and vat?
if it is yes means ,tell me how?
if it is no means , tell me how?

please clarify the above query.

Hello,
I have few doubts regarding EPCG LICENSE.
1) Can any one tell me what is the use of invalidation letter & Ammendment Sheet in EPCG LICENCE.

2) As the excise duty at present is 14.42% is it possible to make the payment without excise duty (sale against EPCG LICENCE).But the supplier is not accepting for the same. Can any one tell me why like that.

Regards
k.ravi

Dear all

In Excise exemption zone (Uttranchal & Himanchal exemption for 10 year) Filling Excise return is compulsory or not .

Central excise paid on the material can it be taken as a service tax refund for payment of service tax?
plz reply as soon as possible.