Procedure for clearing duty paid materials

[chaganti srinivas]

The assesse after paying the correct duty clears say 50 nos of a commodity.The buyer finds the quantity is excess than ordered for and so pay for only say 20 nos and the rest 30 nos remains unsold in the latter's warehouse for more than two years.. Since excise duty has already been paid for the entire quantity, can the assesse sell the remaining 30 nos to another party by raising commercial invoice after a gap of two years, if so what is the procedure. Kindly clarify.

AI Summary

Entity Can Sell Unsold 30 Units After Reversing Credit for Those Units; Check Cenvat Credit Records for Compliance. An entity paid excise duty on 50 units of a commodity, but the buyer only purchased 20 units, leaving 30 unsold in their warehouse for over two years. The entity inquires whether they can sell the remaining 30 units to another party after this period and what the procedure would be. The response advises that if credit was availed on the entire 50 units, the entity can sell the remaining 30 units by reversing the credit for those units. The cenvat credit records should suffice, but if circumstances differ, further assessment is needed.