Vijay Bansal (Deputy Manager Commercial) (57 Points)
28 October 2014DEAR ALL,
I WOULD LIKE TO THAT BEING A FIRM HAVING TURNOVER OF INR MORE THAN 2 CRORE, PURCHASING THE GOODS FROM KARIGAR / FIRM AND PACK IT IN OWN GODOWN / SPACE, WOULD FALL UNDER EXCISE CATEGORY. GOODS IS EXCISABLE.
FURTHER, IF WE REGISTERED WITH EXCISE THEN WITH ABOVE CIRCUMSTANCES, SHOULD WE CHARGE THE EXCISE DUTY ON BILL? OR THE SAME IS TREATED AS TRADING ONLY.
THANKS/REGARDS,
VIJAY
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 28 October 2014
mention the ITC / HScode of the item or specify the item, before mputting such question
Deepak Talreja
(22)
(62 Points)
Replied 28 October 2014
yes , you are coming in the category of excise because packing is also a manufacturing according to the excise act.
Ramanuj Pandey
(executive)
(22 Points)
Replied 28 October 2014
CA Apoorva Gaurav
(CA)
(368 Points)
Replied 28 October 2014
Yes its deemed manufacturing defined in 2 (f) (ii) / 2 (f) (iii)
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 03 November 2014
unless HS code or ITC is not provided, its complex to reply, say you purchaseda truck and sold after re leveling, but as the duty of truck is already paid by manufacturer, you are not liable to pay, so important factor is the comodity and the distribution system process.
CAclubindia
