Receipt of duty-paid articles must be recorded as traded stock and accounted in trading stock when no refund is claimed. Where articles on which duty was paid at the time of first sale by the assessee from his registered or centrally registered premises, or branches, are returned unchanged, the assessee must state particulars of such receipt in records as traded articles and account for them in the trading stock account, on the condition that no refund of excise duty is claimed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Receipt of duty-paid articles must be recorded as traded stock and accounted in trading stock when no refund is claimed.
Where articles on which duty was paid at the time of first sale by the assessee from his registered or centrally registered premises, or branches, are returned unchanged, the assessee must state particulars of such receipt in records as traded articles and account for them in the trading stock account, on the condition that no refund of excise duty is claimed.
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