TaxTMI 
TaxTMI 
Transfer of Funds From Excisable firm to Non excisable firm
X X X X Extracts X X X X
X X X X Extracts X X X X
....ransfer of Funds From Excisable firm to Non excisable firm<br> Query (Issue) Started By: - mantra bishnoi Dated:- 14-6-2017 Last Reply Date:- 14-6-2017 Central Excise<br>Got 1 Reply<br>Central Excise<....
X X X X Extracts X X X X
X X X X Extracts X X X X
....br>We have a manufacturing partnership firm A (covered under excise) and firm B manufacturing same goods in a nearby location with almost same partners but not covered under excise. I have in the pas....
X X X X Extracts X X X X
X X X X Extracts X X X X
....t withdrawn cash from Bank Account of Firm A and deposited to firm B's bank account and used the same in purchase of goods for firm B. This was done a couple of years back in financial year 2014-1....
X X X X Extracts X X X X
X X X X Extracts X X X X
....5. I was recently told by someone that this action can make my firm B liable to be under Excise Duty and pay excise on goods sold since the transfer was done. Is that so ? Please respond asap. Than....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ks Mantra B Reply By KASTURI SETHI: The Reply: You have done nothing wrong. Duty cannot be demanded with out any basis.<br> Discussion Forum - Knowledge Sharing ....