EXCISE DUTY LIABILITY

[SURYAKANT MITHBAVKAR]

We have issued invoice on last day of the month i.e. 31.12.14 but our removal date is next day i.e. 01/01/15

Pl. advice excise duty liability is to be paid by 5th of January-15 or 5th of Feb-15

AI Summary

Excise Duty Payable on Goods Removed January 1, 2015; Consider Early Payment if Invoice States December 31, 2014 A query was raised regarding the excise duty liability for goods invoiced on December 31, 2014, but removed on January 1, 2015. The consensus among respondents was that excise duty is payable upon the removal of goods. Thus, the duty should be paid by February 5, 2015, as the removal occurred in January 2015. However, one respondent suggested that if the excise invoice indicates removal on December 31, 2014, it might be prudent to pay by January 5, 2015, to avoid potential legal issues.