Can captive consumption be treated as cleared for home consumption without payment of duty?
please help!!!!
Ruchit Berlia (Student) (41 Points)
10 June 2011Can captive consumption be treated as cleared for home consumption without payment of duty?
please help!!!!
CA AMANPREET SINGH
(Chartered Accountant)
(284 Points)
Replied 10 June 2011
Captive consumption is a DEEMED clearance of Intermediate goods. But because of Exemption for use within same factory it shall not be a clearance without duty. However if Exemption is not applicable it will definately be a violation of Excise laws.
Arvind Sharma
(ACA)
(1432 Points)
Replied 10 June 2011
Agreed...., Notification 67/95 is all about Captive Consumption....
Refer following link...
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 10 June 2011
get permission for seperate series of invoice book for captive consumption with your juridictional AC/DC, this will distinguish your captive consumption from the clearance value.
Ruchit Berlia
(Student)
(41 Points)
Replied 11 June 2011
thanks a lot frenz for ur valueable suggestion. really it was helpful to me
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
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