TaxTMI 
TaxTMI 
Dear Sir
We have need how to treat sales return in books of excise and what record maintained
Pl explain me.
sales return
13 Nov 2014 
3 Replies 
3611 Views Asked by
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Sales return under excise: CENVAT credit may be reclaimed or must be reversed depending on processing and manufacture.
When returned goods are received without processing amounting to manufacture, CENVAT credit may be availed on the invoice copy accompanying the return and recorded in input and credit registers; if no manufacturing process has been carried out the previously availed credit must be reversed. If returned goods undergo processing amounting to manufacture or value addition, duty becomes payable on value determined under the valuation provision. Detailed private records must be maintained showing invoices, duty documents, parties, descriptions, quantities, processes, credits availed and reversed, duty on replacements, and re clearance or resale entries. (AI Summary)
When returned goods are received without processing amounting to manufacture, CENVAT credit may be availed on the invoice copy accompanying the return and recorded in input and credit registers; if no manufacturing process has been carried out the previously availed credit must be reversed. If returned goods undergo processing amounting to manufacture or value addition, duty becomes payable on value determined under the valuation provision. Detailed private records must be maintained showing invoices, duty documents, parties, descriptions, quantities, processes, credits availed and reversed, duty on replacements, and re clearance or resale entries. (AI Summary)