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Finished goods burnt by fire- reg

Central Excise - Started By: - vinay wakde - Dated:- 13-10-2015 Last Replied Date:- 14-10-2015 - We are manufacturer finished goods namely Direct Reduced Iron (DRI) i.e. Sponge Iron (CH No. 7203 10 00). Recently, there was fire in our finished goods .....

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tion 10:90 in the plant, after seeking necessary permission from the Central Excise. Kindly let us know, whether proportionate CENVAT taken to be reversed to the extent of quantity consumed for manufacture of DRI which is subsequently burnt? is there .....

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epartment will not remit the duty unless or until cenvat credit involved on the inputs contained in finished goods is reversed in full as per Rule 3 (5C) of the Cenvat Credit Rules as amended. On this very issue, there is judgement of Hon'ble Sup .....

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s were taken to avoid fire accident . This is for your information and for precaution to be taken while applying for remission of duty. Furthermore, naturally, the element of Central Excise duty is not to be claimed from the insurance company. Second .....

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king and utilization of cenvat credit on inputs/raw materials, there have been two basic parameters in force since the year 1986, the year of inception Modvat (Cenvat) Credit Scheme. These are :- 1. Inputs must be duty paid. 2. Such inputs must be ut .....

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