Please tell me please if we purchase raw material 120% of sale,i.e. more than sale then it is cleared that material is lying in stock.
if material is lying at raw material stage then can we use this cenvat on raw material on payment of excise on sale.
as purchase is more than sale so duty payable becomes nil.
is it right not to deposit excise duty or we cannot take benefit of excise on stock lying as raw material and accordingly we have to keep the excise duty on raw material in our stock and balance to pay
CAclubindia
