Check sibling questions

Removal of Goods from Factory

 

Taxable event for levy of excise duty is manufacture.

However, it is payable on removal of goods from factory

Removal of goods may be on sale or on stock transfer to some other factory of the manufacturer

This applies to all the goods except

  • Khandsari molasses produced and stored in the factory of the manufacturer
  • Goods produced in factory and sold outside warehouse

 

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CA Maninder Singh is a Chartered Accountant for the past 12 years. He also provides Accounts Tax GST Training in Delhi and Kerala.