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TMI BlogAssesable Value for Duty purpos.X X X X Extracts X X X X X X X X Extracts X X X X ..... Assesable Value for Duty purpos. X X X X Extracts X X X X X X X X Extracts X X X X ..... turing Monofillament yarn which is excisable. Erlier we sell goods without adding value of cops. because cops are returnable. Now we decided to sale monofilament yarn with cops. So, can we issue sepe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rate commercial invoice for cops without excise and excise invoice for monofilament yarn. Please advice on the issue. or any other option to save excise duty. Reply By Pradeep Khatri: The Reply: De ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar Himanshu, As per excise laws, you would had to add the amortised value of cops in the Monofillament yarn when you were selling monofillament yarn and the COPS were returnable. Now, if COPS are al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so being manufactured by you, then, you would have to pay the Central Excise Duty by raising a separate invoice or mentioning the description, qty, and value of the goods along with the monofillament ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yarn.
Further, if these are bought out items and you have availed the CENVAT credit then on removal as such you have to reverse the equivalent CENVAT credit.
Regards,
Pradeep Khatri X X X X Extracts X X X X X X X X Extracts X X X X ..... Forum - Knowledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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