Sowmya S (CAO) (214 Points)
18 February 2013Dear All,
Whether excise duty input credit can be availed on goods purchased for making second sales? v hav registered our company as Manufacturer for 2 items which does not include the said good which v hav purchased for 2nd sales.
Plz clarify me at the earliest, provide me the link if possible.
Thanks & Regards,
Sowmya.S
Rakshit
(practising)
(338 Points)
Replied 18 February 2013
no credit is admissible
Raksh*t
advrcverma @ gmail.com
Abhisek Rungta
(PRACTISING CHARTERED ACCOUNTANT)
(234 Points)
Replied 19 February 2013
You can't take excise credit.
Prabhat Kumar
(Advocate & Consultant)
(1912 Points)
Replied 21 February 2013
In the scheme of Central Excise Cenvat the credit is only available if the input is used in manufacturing of final product.Being so you are not entitled for input credit.
Ranjan R
(Service)
(39 Points)
Replied 21 February 2013
Dear Soumya
You can not avail input credit. However if your buyer is a manufacturer and goods are input for him, you can pass on the credit by registering yourself as First Stage Dealer. The net sale price in such case would be reduced.
CAclubindia
