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Issue ID: 108615
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Rate Difference

Date 16 May 2015
Replies 1 Reply
Views 1352 Views
Excise duty on debit notes: short-receipt rate differences must include excise and sales tax, not input credit.
When material is short received, a debit note for the rate difference should include Excise duty and Sales Tax because the recipient is not entitled to claim Cenvat credit for material that was short received or not received; therefore tax liabilities must be reflected on the debit note rather than adjusted through input credit. (AI Summary)

Dear Sir

I want to know that if we are making debit note for rate difference so we should calculate the excise for it or not please suggest me .

For example :- Material received @138 while actual rate was 137.75 for 100 kgs

Than difference is .25 so basic amount will be .25*100=25

Add Vat @4.2% 1.05

Total amount is 26.05

or

Excise duty will be calculated

Central Excise
1 answers
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Replied on May 17, 2015
1.

In case of Short receipt of material you should raise Debit note with Excise duty and Sales Tax as you are not entitled to take Cenvat credit of material short received/Not received.
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