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TMI BlogCenvat Credit on Deemed ExportX X X X Extracts X X X X X X X X Extracts X X X X ..... Cenvat Credit on Deemed Export X X X X Extracts X X X X X X X X Extracts X X X X ..... lies against ICB is considered as Deemed Export. Now the question is - 1. As the supplies against ICB is deemed export, whether CENVAT Credit on inputs used can be denied ? 2. Whether the supplies against ICB will be considered as exempt goods for the purpoose of Rule 6 of CCR, 2004 ? Please advise. Reply By Rajagopalan Ranganathan: The Reply: Sir, Rule 6 (6) (vii) of Cenvat Credit Rules, 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 004 stipulates that "the provisions of sub-rules (1), (2), (3) and (4) shall not be applicable in case the excisable goods removed without payment of duty are goods which are exempt from the duties of customs leviable under the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and the additional duty leviable under sub-section (1) of section 3 of the said Customs Tariff Act when imp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orted into India and are supplied,- (a) against International Competitive Bidding; The above condition can be held satisfied provided excisable goods manufactured in India are similar to goods imported from abroad and are exempted from duties of customs leviable under the first schedule to the Customs Tariff Act and the same are supplied against International Competitive Bidding Sub-rules (1), ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (2) and (3) of rule 6 of Cenvat Credit Rules provides various option to the assesse if credit availed inputs and capital goods and credit of service tax paid on input services are utilized in the manufacture of dutiable and exempted excisable goods or used for providing taxable and exempted output services. These provisions are not applicable if you satisfy rule 6 (6) (vii) of Cenvat Credit Rules, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2004. Therefore answer to your first question is No. The answer to your second question is also No since goods supplied against International Competitive bidding are not exempted excisable goods. Reply By KASTURI SETHI: The Reply: Sh.Arvind Tiwari Ji, I fully support the views of Sh.Ranganathan, Sir. Also go through Notification No.12/12-CE dated 17.3.12 as amended vide Notification No.12/15- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CE dated 1.3.15 (Para C) In the annexure--Condition No.41).
Reply By YAGAY AND SUN:
The Reply:
CENVAT credit is allowed on goods removed for ICB as stated above by the Experts
Reply By Ganeshan Kalyani:
The Reply:
Enriching discussion. X X X X Extracts X X X X X X X X Extracts X X X X
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