Discount purchase

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Purchase from party with 100 percent 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 accoun .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... t this bill only excise duty amount? 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 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... credit agst. the input received by you on the basis of valid document. SHIVKUMAR SHARMA - Reply By Pradeep Khatri - The Reply = Yes, you may avail the CENVAT credit on this bill provided yo .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... u use inputs/components/raw-material etc. in the manufacturing of finished goods. Further, you would have to follow the prescribed the provision of CENVAT credit Rules, 2004 as amended from time to .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... time. Team YAGAY SUN (Indirect Tax Consultants) - Discount purchase - Query Started By: - Shanmugam Sreedevi Dated:- 21-2-2014 Central Excise - Got 2 Replies - Central Excise - Discussion Fo .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X