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Gta & cenvat credit

ravi charan (Taxation excutive) (121 Points)

05 September 2011

pls give me clarification of inward & outward fright.

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5 Replies

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 06 September 2011

inward freight = freight charges paid for transporation of inputs to factory of manufacture

outward freight = freight charges paid for transporation of goods which are sold at factory gate.

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ravi charan (Taxation excutive) (121 Points)
Replied 06 September 2011

manufacture company can take credit on both frights?

Ch.Venkata Ramana (commercial Manager) (138 Points)
Replied 09 July 2012

manufacture company can take credit on only input service

Ramana

9912399774

Ajit kumar Dubey (Taxation Manager) (637 Points)
Replied 10 July 2012

In addition to what Ch.Venkata said, the credit is available for the transportation upto the place of removal like if customers place is the place of removal as per the agreement then Credit is allowed for transportation from factory to the place of customer provided that the amount of freight is shown in the excise invoice.

Prateek Agarwal (Sr. Executive - Finance & Accounts) (1732 Points)
Replied 10 July 2012

Also, The cost of insurance shall be borne by the consignor. Hence, outward freight upto the place of removal can be claimed as credit whereas, inward freight is fully claimable without condition.