Respected Sir, One of our client M\s XYZ Ltd.(Gujarat) has shown their stock as 1000000 units in the RG1 Register and also in their monthly returns and the VAT Auditor has also shown the same for FY 2007-08 but we have reported the same as 4000000 units per our 3CD reports and the annual reports now my query is that how do i bring an reconciliation in the same when the client's Excise Consultant has already given the signed indemnity bond for the shifting purpose in Sep 08 of the factory(Rajasthan)how do i come out of this position ?? one of the CA has advised me to show the balance as scrap sales, what should i do ??
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diff as per excise records
Replies (1)
| Originally posted by :Tejas | ||
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Every thing depends on the situation. You have not mentioned in details. It is assumed that 1000000 units stock shown in RG-1 as on 31.03.2008 and the same has been been filed in March 2008 C. Ex Return. If so happened, it is not possible to show scrap sold, as scrap is excisable and for that you have to comply all the formalities. If possible( I am not sure) you can show the same item as purchased for trading. Thanks, S. Banerjee |
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