Inter unit transfer of excisable non cenvable goods
This query is : Resolved
21 August 2014
Dear All,
We have two manufacturing units within West Bengal. Both the units are registered with Central Excise. Our product applies specific duty as per notification 1/2011 which is presently 2%. We are not eligible for Cenvat credit. If we want transfer our finished product from one unit to another unit for storing and sale from there end. How can we do this?
Pls help, this is urgent.
We have two manufacturing units within West Bengal. Both the units are registered with Central Excise. Our product applies specific duty as per notification 1/2011 which is presently 2%. We are not eligible for Cenvat credit. If we want transfer our finished product from one unit to another unit for storing and sale from there end. How can we do this?
Pls help, this is urgent.
21 August 2014
if you are mfg the product the and tfr to another unit of yours . then you have to show the "10% addition of inter unit tfr" on invoice then then you have to charge the excise duty. its compulsory.
as per excise if you consume the product in house then you have to take 10% margin of the cost . it is not necessary that your rate to customer or to your unit is same. only 10% is compulsory to show on the invoice.
as per excise if you consume the product in house then you have to take 10% margin of the cost . it is not necessary that your rate to customer or to your unit is same. only 10% is compulsory to show on the invoice.
22 August 2014
Mr. Jain
Thanks for your reply. In our product MRP less 35% abatement is considered as assessable value. Secondly, it is not meant for captive consumption of other unit or by means of any secondary packing. It is purely for storage and sale in complete form.
Thanks for your reply. In our product MRP less 35% abatement is considered as assessable value. Secondly, it is not meant for captive consumption of other unit or by means of any secondary packing. It is purely for storage and sale in complete form.
29 August 2014
You can trasfer the goods after payment of excise duty on assessable value.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- Sale of property furniture sale
- Filing of Form 10BB instead of Filing Form 10B
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Applicability of Ind As to associate of associate
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
