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Export of Imported inputs

Central Excise - Started By: - Pradeep Jain - Dated:- 18-3-2016 Last Replied Date:- 19-3-2016 - Sir,We have made an import of components( Inputs) for making an engine. After some time sale of the said engine is stopped.Now , we are having of inventory of imported components ( inputs). Our marketing Team has searched another independent foreign customer to buy ,as such ,the said unused components( inputs), . However price offered by the Foreign customer is less than 70% of imported price of the s .....

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required to reverse / pay an amount equal to CENVAT credit availed in respect of such raw material or machinery. The relevant text of Rule 3 (5) is reproduced below for your ready reference: (5) When inputs or capital goods, on which CENVAT credit has been taken, are removed as such from the factory, or premises of the provider of output service, the manufacturer of the final products or provider of output service, as the case may be, shall pay an amount equal to the credit availed in respect of .....

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