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Apr 28, 2009 at 06:03 AM

Sale of Raw Material - Excise treatment

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Dear friends

I need clarification on process side in the following scenario:

Client is purchasing the Raw Material. The same is doing process and converting into Finished Goods. In some cases the same Raw Material is selling in the open market also for the same price due to quality problems etc.

At the time of purchase we are updating RG23A Part -I and Part - II.

How to treat excise at the time of sale of the Raw Material?

Is it to be reversed the RG23A Part -I and Part - II ?

Please guide me how to handle this scenario.