R P Ananthakumar (Sr. Officer - Central Excise/Cash) (514 Points)
07 November 2011We are having stock at RG1 register. which are obsulute and not fit for market condition. Hence, we have to clear the the stock from RG1 register,
We request you to kindly explain the procedure to do this.
Thanks in advance.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 07 November 2011
you have to give notice to range superintendent for "destruction of finish goods rejected/ outdated" , 2 days before such event.
R/O may depute officer to supervise the destruction
input credit contained in such destruction should be reversed.
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 08 November 2011
Intimate RO for destruction under his supervision . Apply for remission of duty.
R P Ananthakumar
(Sr. Officer - Central Excise/Cash)
(514 Points)
Replied 09 November 2011
Thanks for your reply.
It is possible to get remission on duty from commisioner, because the value of goods is above 5 lakhs.
CAclubindia
