excise credit on purchase return
This query is : Resolved
18 February 2010
purchase goods worth Rs.7500/- for 3 Nos.
Paid for the same Rs.8694/- (i.e.including Excise & VAT
Now if we return 2 Nos. only by way of issuing Debit Note for Rs.5000/- only, whether we can take Excise credit on returned goods
Paid for the same Rs.8694/- (i.e.including Excise & VAT
Now if we return 2 Nos. only by way of issuing Debit Note for Rs.5000/- only, whether we can take Excise credit on returned goods
19 February 2010
The inputs used in or in relation to manufacture only are eligible for credit. Goods which are returned are not eligible unl;ess they are repaiered/ reprocessed and received back.
02 June 2010
No, u can not take credit on returned goods. u have to reverse the duty of 2 no.'s
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