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TMI BlogRemoval of Scrap/Waste from factory after 17.03.2012X X X X Extracts X X X X X X X X Extracts X X X X ..... Removal of Scrap/Waste from factory after 17.03.2012 X X X X Extracts X X X X X X X X Extracts X X X X ..... re receiving various capital goods & their components, spares & accessories etc against which we are taking CENVAT credit. We are receiving different types of scrap/waste (i.e. of MS/SS/Rubber items e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tc) from our main plant. Prior to 17.03.2012 we have paid Excise duty as per the transaction value while removing such scrap/waste from our factory under cover of Excise Invoice. Kindly suggest us the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... system to maintain the account of scrap/waste which co-relates the CENVAT credit taken to satisfy the Department that duty paid /reversed by us for removal scrap/waster after 17.03.2012 is on higher ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... side, in view of changes in Rule 3(5A) after Budget. Regards, VINAY Reply By ANAND SHEMBEKAR: The Reply: OK I can suggest the system for the same Thanks A M SHEMBEKAR CELL NO. 9421187122 Reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... By Pradeep Khatri:
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You would have to pay the Central Excise Duty on the waste and scrap of capital goods either on scrap value or transaction value, whichever is higher. X X X X Extracts X X X X X X X X Extracts X X X X ..... rum - Knowledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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