Discount purchase

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..... Discount purchase
Query (Issue) Started By: - Shanmugam Sreedevi Dated:- 21-2-2014 Last Reply Date:- 22-2-2014 Central Excise
Got 2 Replies
Central Excise
Purchase from party with 100 per .....

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..... cent discount. The party charges Excise duty of 12.36 percent of basic amount. But the basic value & Local tax is entered as 100 percent Discount. Shall we account this bill only excise duty amount? .....

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..... Can we take cenvat input credit for the same. Please clarify Reply By SHIVKUMAR SHARMA: The Reply: Dear Shanmugam Sreedevi Yes ,You can take Cenvat credit agst. the input received by you on the .....

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..... basis of valid document. SHIVKUMAR SHARMA Reply By Pradeep Khatri: The Reply: Yes, you may avail the CENVAT credit on this bill provided you use inputs/components/raw-material etc. in the manufact .....

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..... uring of finished goods. Further, you would have to follow the prescribed the provision of CENVAT credit Rules, 2004 as amended from time to time. Team YAGAY & SUN (Indirect Tax Consultants)
Dis .....

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..... cussion Forum - Knowledge Sharing .....

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