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Storage of Inputs Outside the Factory - Manufacturer - Cenvat Credit - Ready Reckoner - Cenvat Credit

Storage of Inputs Outside the Factory - Manufacturer
  • Contents

Chapter 15

Storage of Inputs outside the Factory

Statutory Provisions:

Rule 8 of the Cenvat Credit Rules, 2004

 

Storage of input outside the factory of the manufacturer.-

The Deputy Commissioner of Central Excise or the Assistant Commissioner of Central Excise, as the case may be, having jurisdiction over the factory of a manufacturer of the final products may, in exceptional circumstances having regard to the nature of the goods and shortage of storage space at the premises of such manufacturer, by an order, permit such manufacturer to store the input in respect of which CENVAT credit has been taken, outside such factory, subject to such limitations and conditions as he may specify:

Provided that where such input is not used in the manner specified in these rules for any reason whatsoever, the manufacturer of the final products shall pay an amount equal to the credit availed in respect of such input.

 

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Procedure for Storage of Input Outside and availing CENVAT Credit

  • Situation

In certain case it is possible that manufacturing is done in such a huge quantity that the storage facility within the factory premises is not sufficient.

 

  • Application to Assisitant Commissioner or Deputy Commissioner (AC/DC)

Assessee will be make an application to AC/DC of jurisdiction.

 

  • Permission generally granted with certain conditions and limitation for portection of revenue

Such permission shall be granted only in exceptional circumstances and may be subject to

  • maintain the proper records in respect of inputs store outside factory
  •  file the bond for the protect of revenue.
 
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