Excise Credit for Stock purcahed prior to 01Jul17
Quite often manufacturers compel dealers to buy their products to achieve targets. All these items do not get sold immediately and dealers are forced to carry inventory till the items get actually sold. The period can run into years. As the Govt has already received the Excise Duty paid by the Dealers on Stocked items, and as at the time of buying these, no time limit was specified for claiming the promised credit of Excise Amount, it is not ethical on part of the Govt to restrict credit period for the Excise amount to six months and that too only for items bought just one year ago. Such time restrictions can be OK for the purchases made now under GST as it would be informed transaction. more
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whole seller purchases goods from manufacturers and pays excise vat etc , he further sells by including excise in his purchase cost , manufacturers transfer the goods from company to depot and there invoice issued to dealers and distributors does not show excise it shows only vat , how the dealer will be able to claim excise as input e.g cement trade 14.50 vat present gst 28% how the dealer will be able to claim 13.50 differences of taxes ( excise may be around 11 to 13%) more
Jul 02
Was it ethical for the manufacturer to dump goods on you even when it was known that I may not be sold for an year. Why you held the inventory for such a long time. more
Jul 02
Govt. cannot bring rules which have a retrospective effect. All Govt. action must not only be fair, it must also look fair. Earlier there was no need or provision to raise excise invoices (with gate-pass) down the chain of business invoicing. Only the first Invoice in the business chain was issued excise invoice. Keeping this legal practice in mind, the Govt. cannot / should not penalize businesses who have received non-excise invoices down the chain, by giving them only 40 % or 60 % CGST input down the line. This is unfair and reeks of high-handedness. more
Jul 01
