Excisable goods theft from factory

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..... Excisable goods theft from factory
Query (Issue) Started By: - MITSUI PRIME Dated:- 6-8-2014 Last Reply Date:- 6-8-2014 Central Excise
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Central Excise
Dear Sir, Pl. advice to us our Excisable goods theft from factory gate . what is the process of Cenvat. Pl. suggest to us your valuable advice. Thanks and Regards Arjun sachdeva Reply By Pradeep Khatri: The Reply: Dear .....

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..... Arjun, Please check Rule 21 of the CE Rules, 2002 in this regard. Further, if you get compensation from the Insurance Company then you need to reverse the CENVAT credit availed on the inputs used in manufacturing of Finished Goods. Regards Team YAGAY and SUN Central Excise Rules, 2002 21. Remission of duty.- Where it is shown to the satisfaction of the Commissioner that goods have been los .....

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..... t or destroyed by natural causes or by unavoidable accident or are claimed by the manufacturer as unfit for consumption or for marketing, at any time before removal, he may remit the duty payable on such goods, subject to such conditions as may be imposed by him by order in writing: Provided that where such duty does not exceed 1[ten thousand rupees], the provisions of this rule shall have effect .....

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..... as if for the expression "Commissioner", the expression " Superintendent of Central Excise" has been substituted: Provided further that where such duty exceeds 1[ten thousand rupees] but does not exceed 2[one lakh rupees], the provisions of this rule shall have effect as if for the expression "Commissioner" , the expression " Assistant Commissioner of Central E .....

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..... xcise or the Deputy Commissioner of Central Excise, as the case may be," has been substituted: Provided also that where such duty exceeds 2[one lakh rupees] but does not exceed 3[five lakh rupees], the provisions of this rule shall have effect as if for the expression "Commissioner", the expression " Joint Commissioner of Central Excise or Additional Commissioner of Central Ex .....

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..... cise, as the case may be" has been substituted
Discussion Forum - Knowledge Sharing .....

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