1 Reply Latest reply on Dec 6, 2016 11:31 AM by saroj.dash

    Non bonded sub inventory

    Gaurav Arora

      Hi ,

       

      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.

       

      Rgds

      Gaurav

        • 1. Re: Non bonded sub inventory
          saroj.dash

          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.

           

          Regards

           

          Saroj Kumar Dash