Can you help me to elaborate Trading Invoice. Is it the material which is used as trading Goods? Where trading invoice is used? What is the Excise Duty effects? As i know, in creating the outgoing trading invoice, the data about vendor from whom we hv purchased and the excise duty passed on is required to show...is it right and please add more details
G Lakshmipathi replied
Dont bother about the duty what you paid while inwarding the trading material. Just pay duty on the value what you are selling. Of course, the duty amount while selling the trading material, should be more or equal to the duty amount what you paid initially. It should not be less than that.