TMI BlogCenvat Credit on Deemed ExportX X X X Extracts X X X X X X X X Extracts X X X X ..... This is in relation to the availment of CENVAT Credit on inputs used in manufacturing of goods which are supplied against ICB. As per N 6/2006 CE - Supply against ICB is exempt from Central Excise Duty. Also as per FTP supplies 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 de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nied ? 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, 2004 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 imported into India and are supplied,- (a) against International Competitive Bidding ; The above condition can be held satisfied provi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded 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), (2) and (3) of rule 6 of Cenvat Credit Rules provides various option to the assesse if credit availed inputs and capital g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oods 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, 2004. Therefore answer to your first question is No . The answer to your second question is also No since goods ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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-CE dated 1.3.15 (Para C) In the annexure--Condition No.41). - Reply By YAGAY AND SUN - The Reply = ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CENVAT credit is allowed on goods removed for ICB as stated above by the Experts - Reply By Ganeshan Kalyani - The Reply = Enriching discussion. - Cenvat Credit on Deemed Export - Query Started By: - ARVIND TIWARI Dated:- 22-8-2016 Central Excise - Got 4 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmana ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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