anita (trainee) (514 Points)
13 October 2014Iam a manufacturer , I want to trade my excisable input , the party to whom goods will be sold is not covered in excise. Since I will not be passing on the excise credit should I include the manufacturer's detail (as in the case of sale by first stage dealer), in my opinion I dont need to .
Experts plz help
TIA!!
kumar hattanna
(Officer - Excise)
(525 Points)
Replied 13 October 2014
Dear Anitha
1. In case your removing the inputs as such, you must reverse the availed duty credit irrespective of customer registration.
2. Please refere the Cenvat Credit Rules 2004 3(5)
Regards
Kumar
anita
(trainee)
(514 Points)
Replied 14 October 2014
I won't be booking the credit in the first place.
I just want to know that will I have to give details of the manufacturers's invoice( as a first stage delaer does) , since I am not passing on the credit to him ( the party concerned being non excisable). My concern is that I dont want to disclose my profit to the party.
kumar hattanna
(Officer - Excise)
(525 Points)
Replied 15 October 2014
No need to disclose the duty breakup. it will be cost to the material.
Harendra Kumar
(Tax Advisor )
(1326 Points)
Replied 17 October 2014
Sir,
In this regard I agree with Mr. Kumar, you have to reverse the invole duty on such materials with interest.
Thanking you,
R P Ananthakumar
(Sr. Officer - Central Excise/Cash)
(514 Points)
Replied 20 October 2014
Dear Anita
My opinion is you are manufacuture and doing trading also. so there is no need for dealer registration. You can raise trading invoice to the customer (Value+Sales Tax only). You can reverse the duty if you have taken credit at the time of inward. These details are not required to shown in the invoice.
Regards,
RP Ananthakumar
CAclubindia
