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Inventory mismatch of RM PM

Central Excise - Started By: - Pradip Sirsat - Dated:- 24-10-2015 Last Replied Date:- 30-10-2015 - Dear Team,the above subject mention, we have reconcile and found short inventory of RM PM.in this case can we reverse excise duty. kindly request give .....

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ed. This is the legal benefit of reconciliation and verification of stock in the interest of an assessee. - Reply By Mahir S - The Reply = Sir,It is surprising that there is shortage in the raw material inventory, as movement of inputs are monitored .....

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ise duty is required to be paid on the Value of the quantity of finished goods, which could have been manufactured from such raw materials found short. - Reply By YAGAY AND SUN - The Reply = CENVAT Credit - Reversal of CENVAT credit solely on the gro .....

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sustainable due to the nature and possibility of accounting error. M/s National Engineering Industries Ltd VS. Commissioner of Central Excise, Jaipur-I and Vica-Versa. 2015 (10) TMI 1555 - CESTAT New Delhi. - Reply By KASTURI SETHI - The Reply = I ag .....

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t free to Allow/Disallow/Quantify the Reconciliation provided by the assessee for shortages the of raw materials found in the factory premises.Department may allow such reconciliation if the difference found short is negligible and within limits.Furt .....

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red/cleared and scrape generated thereof. - Reply By PARTHASARATHY V - The Reply = There is no such pre condition or clear law to demand duty for the shortage of RM/PM to link with FG. For a given product manufacture, need number of components and lo .....

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ubmit the details along with list of duty paid, with interest also in writing to Jurisdictional RO. Which saves from further investigation / quarries. - Reply By PARTHASARATHY V - The Reply = In addition to CENVAT you have to reverse the VAT Input cr .....

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