I want to know that If we deliver the receipt in non bonded sub inventory then where taxes will go?
Can anyone help me with that.
If you are talking about cenvatable taxes then
When you have claimed CENVAT before delivery.
Excise Quantity and Duty registers will get reversed
CENVAT Accounting Entries will get reversed
Excise Amount will be added to the Item Cost where the costing Method is ‘Average. Else, this amount will be debited to Purchase Price Variance Account.
In Case CENVAT Amount is not claimed before delivery, then CENVAT entries will not be reversed on Delivery.
Hope it will help.
Saroj Kumar Dash