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AVAILMENT OF CREDIT ON EXCISE INVOICE STATIONERY

Central Excise - Started By: - SANDESH SHINDE - Dated:- 8-7-2015 Last Replied Date:- 8-7-2015 - Dear Sir,Please explain whether we can avail credit on excise invoice stationery, If yes please explain under which rule and please give us any references regarding this,Thanks & Regards. - Reply By YAGAY AND SUN - The Reply = Dear Sandesh, Please go through the para 3 of the appended Circular No.943/04/2011-CX 29th April 2011. Regards, YAGAY and SUN Regarding clarification on issues relating to C .....

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he CENVAT Credit Rules 2004 were amended along with the Budget 2011 announcements vide Notification 3/2011-CE (NT) dt 1.3.2011. A few changes were further effected vide Notification 13/2011-CE (NT) dt 31.3.2011. On a few issues trade has requested for clarity. Accordingly the following clarifications are presented issue wise in a tabular format. S.No. Issue Clarification 1 Can credit of capital goods be availed of when used in manufacture of dutiable goods on which benefit under Notification 1/2 .....

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on the condition that no credit of inputs and input services, used for providing such taxable service, shall be taken, are exempted services [Rule 2(e)]. Hence credit of capital goods used exclusively in manufacture of such goods or in providing such service is not allowed. 2 Is the credit of only specified goods and services listed in the definition of inputs and input services not allowed such as goods used in a club, outdoor catering etc, or is the list only illustrative? The list is only ill .....

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ssion does not include any goods used in or in relation to the manufacture of final products whether directly or indirectly and whether contained in the final product or not. Only credit of goods used in the factory but having absolutely no relationship with the manufacture of final product is not allowed. Goods such as furniture and stationary used in an office within the factory are goods used in the factory and are used in relation to the manufacturing business and hence the credit of same is .....

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of sales commission now disallowed after the deletion of expression activities related to business ? The definition of input services allows all credit on services used for clearance of final products upto the place of removal. Moreover activity of sale promotion is specifically allowed and on many occasions the remuneration for same is linked to actual sale. Reading the provisions harmoniously it is clarified that credit is admissible on the services of sale of dutiable goods on commission bas .....

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d subject to restriction of utilization of credit up to 20% of the total duty liability as provided for in extant Rules. 8 While calculating the value of trading what principle to follow- FIFO, LIFO or one to one correlation? The method normally followed by the concern for its accounting purpose as per generally accepted accounting principles should be used. 9 Are the taxes and year end discounts to be included in the sale price and cost of goods sold while calculating the value of trading? Gene .....

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