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TMI BlogReversal of ED on shortage of input during stock takingX X X X Extracts X X X X X X X X Extracts X X X X ..... Reversal of ED on shortage of input during stock taking X X X X Extracts X X X X X X X X Extracts X X X X ..... ar Sir, We are manufacture of Engines and Transmissions. For the production of the same approximate 1000 components consumed and there are multiple processes. At the end of financial year physical st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ock was taken however there is shortage in physical stock and stock as per stock ledger. It may due to non-booking of rejection on regular basis. Moreover we have been selling scrap on payment of Exc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ise Duty. Please support with case law or section/rule. Now query is that:- Due to Shortage in stock , during annual stock taking , although there no physical movement of this inputs, Do we need to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reverse Excise duty thereon ? In such case there is judgement in the matter of Maruti Ltd.- according to that stocking is an accounting process and since there is no physical movement of goods theref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore , no need for reversal of Excise Duty( not having the copy , if possible please provide). Is this case applicable on our Company also?. Kindly reply Best Regards Pradeep Jain Reply By Pradeep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Khatri:
The Reply: Greaves Cotton Ltd. vs Commissioner Of C. Ex. on 15 November, 2006 X X X X Extracts X X X X X X X X Extracts X X X X
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