Float stock movements

[Guest]

Dear Expert,

we r procuring parts from Import and local sourcing, clearing goods under legal metrology act(i.e. declaring MRP for Packaged commodity) as parts of our opern.We are moving some float units viz,Engines,cabins,gear box, etc, to unregistered location to support customer requirements for certain period of time and similarly will return back of some times. All materials would get insured based on transactions.

How can we move these parts in such locations,documentation process- plz advise me

AI Summary

Guidelines for Moving Float Units: Use Challans, Way Bills, or Gate Passes; Consider CENVAT Credit and Depreciation. A user inquired about the process for moving float units like engines and gearboxes to unregistered locations temporarily and returning them later, while ensuring compliance with legal requirements. One expert advised using challans for removal and return within 180 days to manage CENVAT credit, and maintaining way bills for VAT purposes, possibly requiring 'Form F' for interstate transactions. Another expert suggested using 'Returnable gate passes' for regular movements without availing CENVAT credit, recommending depreciation claims and maintaining a register for tracking these items, bypassing additional excise formalities.