Discount purchase

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....iscount purchase<br> Query (Issue) Started By: - Shanmugam Sreedevi Dated:- 21-2-2014 Last Reply Date:- 22-2-2014 Central Excise<br>Got 2 Replies<br>Central Excise<br>Purchase from party with 100 perc....

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....ent discount. The party charges Excise duty of 12.36 percent of basic amount. But the basic value & Local tax is entered as 100 percent Discount. Shall we account this bill only excise duty amount? C....

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....an we take cenvat input credit for the same. Please clarify Reply By SHIVKUMAR SHARMA: The Reply: Dear Shanmugam Sreedevi Yes ,You can take Cenvat credit agst. the input received by you on the b....

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....asis of valid document. SHIVKUMAR SHARMA Reply By Pradeep Khatri: The Reply: Yes, you may avail the CENVAT credit on this bill provided you use inputs/components/raw-material etc. in the manufactu....

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....ring of finished goods. Further, you would have to follow the prescribed the provision of CENVAT credit Rules, 2004 as amended from time to time. Team YAGAY & SUN (Indirect Tax Consultants)<br> Disc....

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