Pls. provide your valuable advices for this issue, ' we have 5 manufacturing unit within India, we closed one of the unit which was located in MP, remaining units in AP, now issue is ' we despatched 5 consignments from MP ofter closing MP unit customer rejected our material, then can we account for that material in AP unit? pls. send your advices to us. BENARJEE GOVADA.
my query is- Excise, VAT & Accounts, What is the proccessor ofter surendering the Excise & VAT registration certificates to the department? Pls. give your replies on this issue.
Handling Excise Duty and VAT After Closing Manufacturing Unit: Credit Options and Documentation Requirements Explained A user inquired about handling excise duty and VAT after closing a manufacturing unit in MP and facing material rejection. They asked if they could account for the rejected material in their AP unit and sought advice on the process after surrendering excise and VAT registration certificates. A respondent advised that for excise, credit can be availed at the AP unit if the process amounts to manufacturing and necessary documentation is provided. If not, the credit must be reversed. For VAT, options are limited or nonexistent regarding credit. (AI Summary)
TaxTMI 
TaxTMI 
