That means the person who stores at ware house is not taxable. but when he is second delaer who takes credit of cenvat pl expalin this point
Discussion on service tax ca final - can anyone join now?
Page no : 19
Udit Gupta
(CA Final Student)
(352 Points)
Replied 22 September 2012
When goods are stored in a warehouse without payment of duty, then the duty liability is on the person who stores the goods.
Yogita
(Partner)
(434 Points)
Replied 22 September 2012
Bittuji Then what happens with imports spcl Customs Duty ?. Bittu 2nd stg dealer purchases from Mfctr & sells further. He can claim Cenvat then he charges excise & if he does not claim Cenvat then he will endorse his Invoice that Cenvat not claimed & further passed to the purchaser. Check the provision dear
Yogita
(Partner)
(434 Points)
Replied 22 September 2012
Madhavi see I have answered this for Bittu. If your query is clear its OK else tell me I will explain in still another way to you to understand
Madhavi
(CA - FINAL)
(1342 Points)
Replied 22 September 2012
if a person who is neitehr manufacturer nor peoducer of excisable goods but only store scuh goods in a warehouse he is not laibale to excise duties but as u said secon delaer i didn't get this. pl explain
Madhavi
(CA - FINAL)
(1342 Points)
Replied 22 September 2012
tell me warehouse point of view the second dealer concept?
Yogita
(Partner)
(434 Points)
Replied 22 September 2012
Hey Madhavi / Guptaji / Poojaji / Bittuji
Some good Video lecture is just posted on VAT by castudiesforum.com some member. I was watching it. It seems good to understand VAT conceptually in detail
Madhavi
(CA - FINAL)
(1342 Points)
Replied 22 September 2012
the link was given in the forum of cci. go through that pooja
Yogita
(Partner)
(434 Points)
Replied 22 September 2012
Pooja here is the Link for you. enter it in the address bar & you will start with the VDO Lecture
https://vimeo.com/49909503
Madhavi
(CA - FINAL)
(1342 Points)
Replied 22 September 2012
ok bye yogesh, bittu, gupta, pooja . see you tommorrow . good night
Udit Gupta
(CA Final Student)
(352 Points)
Replied 22 September 2012
Bittuji Read the CENVAT Credit Rules proerly.
Rule 2(5) – A dealer who purchase goods from a first stage dealer is known as second stage dealer.
Dealer of any subsequent stage after second stage cannot issue CENVATable invoice.
Yogita
(Partner)
(434 Points)
Replied 22 September 2012
OK Madhavi but do see that VAT Vdo your concepts should get cleared. I was watching that just now its good
Udit Gupta
(CA Final Student)
(352 Points)
Replied 22 September 2012
Bittuji I think u are getting confused between Secoond Stage Dealer and Input Service Distributor.
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