25 November 2012
EXPLAIN ME PASSED ON EXCISE DUTY BY FIRST AND SECOND STAGE DEALER AND WHO CAN TAKE THE CREDIT OF THIS DUTY AND HOW AND WHEN ?
INCASE
"A" IS MANUFACTURER WHO SALES TO "B"
"B" IS DEALER BUY GOODS 100PCS @ 100 RS/- PER PCS. @ 12.36% DUTY
"C" IS MANUFACTURER PURCHASED THE GOODS FROM "B" 50PCS @ RS 120/- PER PCS WITH VAT-05%
NOW "B" SHOWS ON HIS COMMERCIAL INVOICE RS 6000/- PLUS RS 240/- VAT TOTAL INVOICE RS. 6240/- AND ON BOTTOM OF INVOICES SHOWS THE DETAIL OF IS BUYING DETAILS FROM "A" WHO IS MANUFACTURER SHOWS BUYING DETAIL 100PCS @ RS 100/-PCS @ 12.36% ALSO SHOW THAT THIS DUTY HAS BEEN PASSED BY HIM (I.E. BY "B")
IN THIS CASE HOW EXCISE DUTY WORKS, WHO HAS TO PAY EXCISE DUTY, WHO CAN TAKE THE CENVET CREDIT AND HOW CAN THEY TAKE IT
EXPLAIN THIS TYPE OF TRANSACTION SELLING BY FIRST STAGE DEALER TO SELLING TO MANUFACTURER BY PASSIONG THE EXCISE DUTY ON MATERIAL PURCHASED FROM MANUFACTURER