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

Excise duty on stock transfers: duty arises on removal; valuation depends on whether transfer is to own unit or depot.
Stock transfers from an excisable factory to a head office attract excise duty because duty is leviable on removal; the head office, not being a depot or registered unit, is treated as "any other place" and duty must be paid at removal. Valuation depends on destination: transfers to own units use the cost plus method under Rule 8, whereas transfers to depots or consignment premises are valued by transaction value under Section 4. VAT is payable only upon sale from the depot or selling premises.