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Withdrawal of exemption of CVD on import of certain Drugs, Medicines, Diagnostic kits and Life Saving Drugs vide Notification No. 6/2016-Cus. Dated 28.01.2016 – An Analysis on impact under Customs and Central Excise

Withdrawal of exemption of CVD on import of certain Drugs, Medicines, Diagnostic kits and Life Saving Drugs vide Notification No. 6/2016-Cus. Dated 28.01.2016 – An Analysis on impact under Customs and Central Excise - Central Excise - By: - surya narayana - Dated:- 16-2-2016 - Dear TMI Readers, All of you are kindly aware, on 28.01.2016 CBE & C issued Notification No. 6/2016- Cus. Withdrawing the exemption by way of omitting certain products from payment of CVD on import of certain Drugs, Me .....

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tion given under Sl.No. 147A of the Notification ibid was also extended (covered under List 3 & 4 of Customs Notification No. 12/2012-Cus) to Central Excise for the said products manufactured in India from payment of Excise Duty under Sl. No. 108A of Notification No. 12/2012-CE Dated 17.03.2012 as amended without any condition. Accordingly, the assessees who are manufacturing such Drugs (Bulk Drugs) and Medicines (Formulations or P or P Medicines and diagnostic kits) are availing this exempt .....

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ions under the said rule briefly, are…. Not to avail Cenvat Credit on the exclusive inputs, Capital Goods and Input services used in such exempted Goods; Maintain separate accounts for the common inputs and input services used in both the exempted and dutiable products; If separate accounts for common inputs not maintained, required to reverse an amount equal to certain percentage ( 6%) on the value of the exempted product at the time of clearance; or to reverse the proportionate Cenvat c .....

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2. The manufacturers of such omitted/deleted products in India are also required to pay the applicable rate of excise duty and need not required to follow the procedures under Rule 6 of Cenvat Credit Rules,2004 on the clearances made on or after 28.01.2016. 3. The manufacturers/Assessees can now take Cenvat Credit on exclusive and common inputs and input services received on or after 28.01.2016 used in such products. 4. The manufacturers/Assessees can also avail proportionate cenvat credit on su .....

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he contents of Notification No.6/2016-Customs Dated 28.01.2016 together with the names of the items omitted /deleted from List 3 & 4 detailed below for ready reference and benefit of the readers. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 6/2016-Customs New Delhi, the 28th January, 2016 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary i .....

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g), the entry NPK 13:05:26 shall be substituted; (ii) in List 3, the goods specified against following item numbers shall be omitted, namely:- (1), (3), (6), (8), (13), (14), (15), (20), (22), (24), (27), (30), (32), (35), (37), (39), (41), (43), (44), (45), (48), (51), (52), (55), (56), (57), (58), (59), (61), (62), (63), (65), (66), (72), (73), (77), (91), (95), (102), (105), (110), (113), (115), (116), (117), (118), (119), (120), (121), (125), (127), (128), (129), (130), (131), (132), (133), .....

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5(E), dated the 17th March, 2012 and last amended vide notification No. 4/2016-Customs, dated the 19th January, 2016, published vide number G.S.R. 86 (E), dated the 19th January, 2016.. Details of items omitted (deleted ) from the list 3 & 4 under the above Notifications LIST - 3 ( 61 items omitted) (1) Allopurinol (3) Amiodarone (6) Amifostine (8) Atracurium besylate (13) Carbidopa with Levodopa (14) Cefoperazone (15) Ceftizoxime (20) Cefpirome (22) Dacarbazine (24) Desmopressin (27) Dobuta .....

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