obalreddy (accountant) (282 Points)
24 December 2011Dear sir
My company Purchased Led Lights from Bangalore. In the company prepared the Invoice following items.
Led Lights 20 nos 12000/- 2,40,000/-
Excise Duty 5% 12,000/-
E.Chess 2% 240/-
HSEC 1% 120/-
------------------------
Total 2,52,360.00
Vat @ 14% 35,300.00
----------------------------------
Total 2,87,690.00
1. In the above Material is taken Excise duty or not.
In the above bill is correct or not Please Clarified the doute sir.
Thanking you
G.O.REDDY
praveen
(Chartered Accountant)
(6971 Points)
Replied 24 December 2011
You can claim the excise duty if the same is being used for the purpose of producing another product.
CA Prabhat Gupta
(Manager (Indirect Taxes))
(821 Points)
Replied 24 December 2011
Yes,
Credit is allowed, provided the above item is used in or in relation to manufacture of excisable final product and the invoice contains other details as required by Rule 11 of Central Excise Rules, 2002 as amended.
sharad rai
(learner )
(178 Points)
Replied 26 December 2011
You can claim the excise duty if the same is being used for the purpose of producing another product.
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
