Reversal of excise
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 July 2016
Hi all
I raised the excise invoice and after 15 days in the same month due some reason the price has been reduced, now my query is in the credit note can i reduce / reverse the excise duty or leave as it is the original excise duty amount. And same query for VAT also. pls advise me.
Eg. original invoice Excisable value 1000/-
excise duty charged 125/-
Revised excisable value 800/-
I raised the excise invoice and after 15 days in the same month due some reason the price has been reduced, now my query is in the credit note can i reduce / reverse the excise duty or leave as it is the original excise duty amount. And same query for VAT also. pls advise me.
Eg. original invoice Excisable value 1000/-
excise duty charged 125/-
Revised excisable value 800/-
17 July 2016
Yes, you can reduce the excise duty on the basis of credit note.
Message likes :
1 times
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Sale of property furniture sale
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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
