Query Related to Excice Credit

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

14 February 2011 Dear Sir/Madam

I am doing audit of a manufacturing company my query is that this company is purchasing rowmaterial on which suplier is not charging excise he is only charging CST,but the comapny is taking excise as well CST credit on this goods

I want to know whether it is correct or not?

Is there any provision that comapny can take excise credit only if suplier is charging excise on the invocie /

Ram Avtar Singh

Ram Avtar Singh (Expert)
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14 February 2011 No CST credit allowed. No excise credit allowed if Excise amount not mentioned in invoice.

Message likes : 1 times

Ashok Asthana

Ashok Asthana (Expert)
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23 February 2011 No excise credit is allowed if not shown in the invoice separately. The first stage and second stage dealers should also show excise duty calculations separately.

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