pls give me clarification of inward & outward fright.
5 Replies
U S Sharma
(glidor@gmail.com)
(21063 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.
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.
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