17 February 2013
In manufacturing company goods given as free sample for deciding excise value how to prepare invoice for that goods? and on which price (cost or sales price)excise should be count? per unit price should be written on invoice or not? please reply as soon as possible. thanks
18 February 2013
mentioned word :SAMPLE" in this invoice ...
As per RBI regulation, banks may consider requests for grant of GR waiver from exporters for export of goods free of cost, for export promotion up to 2 percent of the average annual exports of the applicant during the preceding three financial years subject to a ceiling of Rs 5 lakh. For Status Holder exporters, the limit as per the present Foreign trade Policy is Rs 10 lakh or 2 percent of the average annual export realization during the preceding three licensing years (April-March), whichever is higher.
18 February 2013
In this regard, please note that there is no specific provision in the Central Excise Rules. However, based on Chapter 11 of the Central Excise Mannual, goods can be removed under excise invoice on payment of duty as a sample.
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