Can captive consumption be treated as cleared for home consumption without payment of duty?
please help!!!!
4 Replies
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)
(21063 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
Recent Topics
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
- MAHARASHTRA CHARITY COMMISSIONER WEBSITE
- Explanation 3 to section 11(1) read with section 4
- Ammendment in Partnership On Death of Partner and
- TDS Provisions applicability Tax Audit Individual
- NAME CHANGE OF HUF
- Advisory for Reporting TDS Deducted by scrap Deale
- Section 194 J Technical Service/Professional Servi
- Solving of Export Related Problems
Related Threads
CAclubindia
