Return of Capital Goods Excise Entry

Mukesh Sinha (Senior Accounts Assistant)   (36 Points)

06 June 2011  

Sir,

I am getting a problem for entry of Excise Bill.

We have purchased a Capital Good in 07-08 for which we have taken CENVAT Credit. Now in 11-12 we are returning these product to the Vendor in lower price then that period.

What will be the excise duty I have to charge?

Current Price X 10.3%

           or

The amount of Excise duty we have taken at that time