22 April 2008
Our company are manufacturers of only rubber products which are sold to auto companies. Our company is getting tools and moulds made by other parties. The tools are not in the company premises.
One of Our sale party is giving us the tools cost separately.But the company is asking for an excise tax invoice without charging the excise. The sales party has given a notification of exemption of excise along with the purchase order.
We are not the trader so can we sell any other product ie tool cost?
Can we issue a excise tax invoice against the tool cost without charging excise?
If yes, whether it is valid to issue the invoice as the tools are not in company premises?
Whether it will raise any objection from excise department while excise inspection?
23 April 2008
From your querry it seems that you have declared in your Excise Registration Certificate as manufacturer of Rubber Parts. You can not do trading of any other product as sale of Tools will be trading activity for you. More over the Excise Duty Invoice can be prepared if the goods are removed from the premises where they are manufactured or traded. In your case since the goods are lying at some other place you can not prepare excise Invoice.
23 April 2008
From your querry it seems that you have declared in your Excise Registration Certificate as manufacturer of Rubber Parts. You can not do trading of any other product as sale of Tools will be trading activity for you. More over the Excise Duty Invoice can be prepared if the goods are removed from the premises where they are manufactured or traded. In your case since the goods are lying at some other place you can not prepare excise Invoice.
CAclubindia
