Need advice regarding billing of assets

In Customs & Central Excise Law
For new business i want to buy machine how the bill should i take

Answers (1)

306 votes
Purchase of machine will follow the the sales bill, if it s from manufacturer, Excise invoice and if it is from trader it will be commercial bill. If the manufacturer is SSI, he will avail 1.50 cr. exemption, if he is big scale mfrer he will prepare excise invoice indicating the payment of excise duties which will be available as Capital Goods credit under CENVAT credit scheme which will be used for payment of duties on final products
query is general. if you have specific query, it will be answered specifically. thanks with regards

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