Transfer of Funds From Excisable firm to Non excisable firm

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... We have a manufacturing partnership firm A (covered under excise) and firm B manufacturing same goods in a nearby location with almost same partners but not covered under excise. I have in the past .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... withdrawn cash from Bank Account of Firm A and deposited to firm B's bank account and used the same in purchase of goods for firm B. This was done a couple of years back in financial year 2014-15 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... . I was recently told by someone that this action can make my firm B liable to be under Excise Duty and pay excise on goods sold since the transfer was done. Is that so ? Please respond asap. Thank .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s Mantra B - Reply By KASTURI SETHI - The Reply = You have done nothing wrong. Duty cannot be demanded with out any basis. - Transfer of Funds From Excisable firm to Non excisable firm - Query St .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... arted By: - mantra bishnoi Dated:- 14-6-2017 Central Excise - Got 1 Reply - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - ta .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... xmanagementindia - 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