Input material resale
This query is : Resolved
19 February 2012
I have crossed SSI exemption of 1.5crore, now i want to clear raw material, which was the old stock of non-modvat goods. Can i resale without paying excise duty or trading the same item
20 February 2012
Firstly You are selling raw material. So it is trading. If your have not taken any credit on such inputs then you will not be required to be excise duty......
20 February 2012
If you have crossed SSI limit, first take your central excise registration, then take cenvat on the items lying in the stock. Then you are removing raw material as such. In this case you will make F3 invoice & revrse the credit on these goods.
22 February 2012
after crossing exemption limit you can not do so. There are various disputes in SSI exemptions which are against assessee. Once u cross limit of 1 cr, intimate and take c excise registration.
after getting registration no. avail credit and at the time of as such clearance reverse the same, u can enhance the value but no duty is required to pay on valua addition
after getting registration no. avail credit and at the time of as such clearance reverse the same, u can enhance the value but no duty is required to pay on valua addition
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