What would be the treatment in case of below facts. 1. If I am leasing a Machine to the Other Party and I am registered under the Dealer Excise , How I can pass the Excise Duty thereon, Excise Duty is passed on to me while purchasing the machinery by me Please make a note that it is a Lease of Machine to the Other party, though the ownership will remain with me. 2. What will be excise procedures to be followed in case of above sceanrio. 3. Thirdly , How the opposite party (Buyer) will record the Transactions.
17 October 2013
Machine is not required for registration of dealer. Register dealer can only pass the excise duty. You should maintained a RG-23D register and file quarterly return for dealer.
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