1.
Dear Mr John
For Sales Return, the detail guideline are given in Rul 16 of Cntral Excise Rules 2002.
1. You have to kept the Sale Return in separate identified are and after receipt you have to intimate to the Jurisdictional Excise Office.
2. You have to maintain separate Register ( Form V) for this. After receipt you have to account in this register. If the Officer doesnt inspect the sales return within 24 hr of the intimation, then the receipt goods may be transfered for reconditioning or similar activity.
3. If you have avail the Cenvat Credit on these goods, then at the time of removal the same amount of cenvat credit to be passed.
4. You may sold the goods at higher or lower price. If goods sold at higher price, pay the duty on the transaction value.
If the goods are sold at lower price, then pass the equivalent credit which was taken at the time of receipt.