TMI BlogReversal of Cenvat CreditX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Experts, We are manufacturing parts of footwear (64062000) paying duty @6% as per entry S.No.5A of notification no. 5/2006/CE dated 1.3.2006 as amended. The duty on our inputs is 12%. As a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... result, the Cenvat Credit is not utilised fully and is being accumulated and carried forward. We are not taking SSI exemption and paying duty from day one. Letter opting for notification no. 8/2003 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as amended is submitted every year. During the course of Audit, C.E.Officer has given a spot memo asking " why excess amount of Cenvat Credit, which is brought forwarded to next year, has not been r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eversed when you are availing Concessional rate of Duty on the final products". I think there is no such requirement in law. I solicit your valued opinion on the issue. - Reply By Pradeep Khatri - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Reply = There is inflated duty structure on your poducts. There is no need to reverse the CENVAT credit. Please ask the Audit Team under which provision of the C.E. Act read with Rules they a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re asking for reversal of CENVAT credit. Pradeep Khatri yagay@in.com - Reversal of Cenvat Credit - Query Started By: - Murari Agrawal Dated:- 6-4-2013 Central Excise - Got 1 Reply - Central ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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