stock transfer under excise

[Anil Jangid]

DEAR SIR,

I WANT TO KNOW ABOUT EXCISE DUTY IN CASE OF STOCK TRANSFER TO HEAD OFFICE.OUR UNIT IS EXCISABLE UNIT AND WE WANT TO TRANSFER SOME FINISHED GOODS TO OUR HEAD OFFICE MUMBAI OUR HEAD OFFICE IS EXCISE EXEMPTED

1- WILL WE CHARGES EXCISE DUTY AT THE TIME OF STOCK TRANSFER TO HEAD OFFICE . 2-ANY CONDITION ABOUT STOCK TRANSFER

THANKS

(ANIL JANGID)

AI Summary

Stock Transfer and Excise Duty: Pay Duty on Cost Plus 10% for Transfers to Excise-Exempt Head Office. A discussion on stock transfer under excise duty involves a query about transferring finished goods from an excisable unit to an excise-exempt head office. Responses indicate that excise duty is payable on the cost plus 10% during stock transfer, as it is considered a removal of goods from the factory. The duty is calculated based on the valuation method under the Central Excise Act, depending on how the goods are disposed of from the head office. While VAT is payable at the time of sale, it can be deferred until the goods are sold.