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TaxTMI 
Credit - Debit procedure of CT-3 in a 100% EOU unit
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....redit - Debit procedure of CT-3 in a 100% EOU unit<br> Query (Issue) Started By: - anand rama rao Dated:- 7-8-2014 Last Reply Date:- 7-8-2014 Customs - Exim - SEZ<br>Got 3 Replies<br>Customs<br>Dear Experts, Pls clarify the Credit - Debit procedure of CT-3 in a 100% EOU unit. Anand Reply By anand rama rao: The Reply: Dear Experts, Pls clarify the Credit - Debit procedure of CT-3 in b-17 b....
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....ond in a 100% EOU unit. Anand Reply By PAWAN KUMAR: The Reply: Dear Sir, As per my view, B-17 bond is executed in EOU for all the transaction i.e. import and export. On the basis of CT-3 certificate an EOU may procure the indigenous goods duty free from the domestic market. When the goods procured, debit the amount of duty as indicated in the invoice into bond-17 and credit the same if the....
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.... goods are issued for use into manufacture of final products from the bonded store. Reply By Pradeep Khatri: The Reply: Dear Anand, The EOU/EHTP/STP/BTP unit can procure indigenous material without payment of Central Excise Duty. They have to issue CT-3 certificate singed by excise authorities to the supplier. The manufacturer of the indigenous goods (i.e. Supplier) is required to follow proce....
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....dure as per Rule 11 (for invoicing) and Rule 20 (warehousing) of Central Excise Rules. B-17 Bond is all purpose bond covering liability both of Central Excise and Customs. The assesse should maintain running bond account of B-17. In the account, of duty payable on goods procured (imported under Bill of Entry or indigenous supply under CT-3) will be debited and correspondence duty will be credited....
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.... when corresponding goods are exported or re-warehousing certificate will be issued after goods are warehoused. This is for your kind information. Regards Team YAGAY and SUN (Management and Indirect Tax Consultants)<br> Discussion Forum - Knowledge Sharing ....