TaxTMI 
TaxTMI 
TaxTMI 
Manufacturing and trading item
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....anufacturing and trading item<br> Query (Issue) Started By: - Sushil Kumar Sharma Dated:- 23-5-2015 Last Reply Date:- 7-8-2015 Central Excise<br>Got 5 Replies<br>Central Excise<br>Dear seniors, Please clear my doubt about the manufacturing item and trading item. our some goods we have manufacturing in plant and some item bought from market. can we sale as trading item by separate. Manufacturi....
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....ng unit can sale trading goods in unit.without excise. pl.suggest me Thanks Sushil Sharma Reply By Sushil Kumar Sharma: The Reply: Dear seniors, any one have no answer.for above these type query. Reply By Mahir S: The Reply: Sir, A manufacturer may bring duty paid goods in the registered manufacturing premises for trading purpose and no permission in this regard is warranted from the Centr....
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....al Excise Department. However, a factory cannot be allowed to receive goods from outside, which are identical to those manufactured by them for which proper permission from the Commissioner is required. Further, you will be required to maintain Separate books of accounts and also carry out Remarking of area intending for trading activities. Also, service tax credit shall be required to be revers....
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....ed for common services used both for the manufacturing and trading activities, such as security supply services, etc. Reply By Sushil Kumar Sharma: The Reply: Dear sir/madam, Any one suggest to me on above mater. Thanks Sushil Sharma Reply By Ashok Aggarwal: The Reply: Dear Mr Sharma, Mr Mihir has answered your query. I agree with him with an advice that even if you are trading in goods ....
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....different from the goods being manufactured by you, you should intimate the jurisdictional Range Superintendent and maintain separate accounts for manufacturing and trading activities. You cannot take Cenvat Credit of the service tax on input services which are exclusively utilized in the trading activity and for common input services, you must reverse the credit proportionately for trading acti....
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....vity. The value of trading activity service is equal to difference in your sale value and purchase value of traded goods or 10% of purchase value whichever is more. Ashok Aggarwal Reply By Sushil Kumar Sharma: The Reply: A lot of thanks sir,<br> Discussion Forum - Knowledge Sharing ....