New User   Login      
Tax Management India .com TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

NN 20/2016 Exempted goods Solar pump Cenvat Credit

Central Excise - Started By: - CA. Varun Arora - Dated:- 24-7-2016 Last Replied Date:- 28-7-2016 - Dear Experts, We manufactures a component of submersible pump(Machine) and In notification 12/2012 One product is covered i.e. Solar Submersible pump i.e. our customer can procures Raw Material without paying duty, in List 8 And our customer is following NN 20/2016 and directs us not to add duty. Now my question is our yield is 60% and scrap is 40% for generating 100 60 kg final product we have to .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

- The Reply = Dear Sir, Solution to your problem lies in Rule 6(6)(iva) of Cenvat Credit Rules, 2004. Pl. go through it. - Reply By Rajagopalan Ranganathan - The Reply = Sir,You have mentioned Electrical sheet. i want to know whether it is made of base metal or plastic. in both the case scrap of base metal and plastics are liable to duty. You are paying duty on the manufactured product. if you remove the scrap on payment of duty then you need not reverse the credit taken. This is my view. - Repl .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Central Excise (N.T) New Delhi, the 8th May, 2012 - Reply By KASTURI SETHI - The Reply = Sh. Varun Arora Ji, I did not mean to reverse. I mentioned Rule 6(6)(iva) with an intent to examine the possibility of non-reversal. I did not go into detail because you r highly qualified. Only clue was sufficient. After going through all replies, I agree with Sh.Mukund Thakkar, Sir. Your problem is solved. No need to further make efforts. Let the new problem or query enter into this forum. - Reply By CA. V .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version