Trading of finished goods by manufacturer
Barathan Kuppusamy (5 Points)
01 November 2015Barathan Kuppusamy (5 Points)
01 November 2015
Ruchi
(CA)
(1410 Points)
Replied 01 November 2015
Excise duty is to be paid only on manufactured goods and not on trading of goods. If you are not manufacturing then u dont have to pay excise duty on that portion of goods. However, if the value of manufactured goods exceeds the exemption limit then u must pay excise duty. And here also only on that portion of goods which are manufactured by u and not on those which are only traded by u.
Barathan Kuppusamy
(5 Points)
Replied 01 November 2015
K.S.NAVEEN KUMAR
(ADVOCATE)
(124 Points)
Replied 01 November 2015
In case cenvat credit is being availed by the company on common input services then the provisions of rule 6 of the Cenvat Credit Rules, 2004 needs to be complied with.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India