Dear Sir,
We are a manufacture of Electrical Goods for produce the Electrical Goods we use the fiber strip.
There is some scrap generated from this fiber strip and sheets and these fiber scraps are not salable because no one want to purchase these fiber scrap . In these above case we need to reverse the excise duty on these scrap or not ?
Regards
Swapneswar Muduli
Electrical Goods Manufacturer Exempt from Excise Duty on Non-Salable Fiber Scrap Under Central Excise Act. A manufacturer of electrical goods inquired about the need to reverse excise duty on non-salable fiber scrap generated during production. The consensus among respondents was that no excise duty is payable on such scrap as it is not marketable, referencing relevant sections of the Central Excise Act and supporting legal precedents. It was advised to issue an excise invoice with NIL value and duty upon clearance from the factory to quantify the non-salable scrap. (AI Summary)
TaxTMI 
TaxTMI 
