Transfer of Funds From Excisable firm to Non excisable firm

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..... Transfer of Funds From Excisable firm to Non excisable firm
Query (Issue) Started By: - mantra bishnoi Dated:- 14-6-2017 Last Reply Date:- 14-6-2017 Central Excise
Got 1 Reply
Central Excise .....

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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 pa .....

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..... st withdrawn cash from Bank Account of Firm A and deposited to firm B's bank account and used the same in purchase of goods for firm B. This was done a couple of years back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- .....

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..... 15. 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. Tha .....

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..... nks Mantra B Reply By KASTURI SETHI: The Reply: You have done nothing wrong. Duty cannot be demanded with out any basis.
Discussion Forum - Knowledge Sharing .....

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