as per cenvat credit rules
2)(a) The CENVAT credit in respect of capital goods received in a factory or in the premises of the provider of output service at any point of time in a given financial year shall be taken only for an amount not exceeding fifty per cent. of the duty paid on such capital goods in the same financial year:

PROVIDED that the CENVAT credit in respect of capital goods shall be allowed for the whole amount of the duty paid on such capital goods in the same financial year if such capital goods are cleared as such in such financial year:

PROVIDED FURTHER that the CENVAT credit of the additional duty leviable under sub-section (5) of section 3 of the Customs Tariff Act, [x x x], in respect of capital goods shall be allowed immediately on receipt of the capital goods in the factory of a manufacturer.


Help me whether the duty leviable under 3(5) on capital goods can be claimed 100% in the year of receipt or not

We received our excise registration certificate on 8th july and paid duty on import goods on 9th july in this can we claim cenvat credit on the imported goods.

Kindly clarify at the earliest

Dear Expert,

A SSI unit choosed the option of availing exemption of not paying duty upto Taxable T-O of Rs.1.5 Cr, but done purchase of bulk raw materials which will be used as inputs for output Taxable T-O of Rs.5 Cr. In that case can the unit is eligible to take cenvat credit proportionately on inputs used in the manufacturing Taxable T-O over and above 1.5 Cr exemption limit even though purchased at the beginning of production. If yes please quote the relevant statutory provisions.

Thanks & Regards,
Gopi

We had applied for Excise Registration 2 weeks back and then we imported some goods.

Now we have received our Excise Registration No and also the imported goods has arrived on the same date of getting Registration No. Can we avail cenvat credit on the above import?

Kindly clarify at the earliest.

Sir,
I had purchased a Forklift for my company. The CENVAT credit had been utilised in the last two years. Now we are planning to sell the forklift.
Do we have to reverse the credit utilized completly? What is formality to Invoice the item?
Kindly advice.

Regards
Vinod

Hi all,
i want to know that what treatment should in Excise record of Debit/Credit Note.
eg. i have billed to party with excess amount and invoice contaning Excise duty and sale tax as well, later on i realized that it was excess billed, hence i raised a credit note to party as a result now my excise duty become lesser than earlier billed amount.
now i want to know can i take cenvat credit or reduce my excise expenses in excise records on basis of this credit note? if yes kindly let me know under which provision?
Please help ASAP.

Dear Sir,

One of our customer is electricity board Meerut ( C ) ,and one of its store division is Moradabad (M) , under this division three store centers are their Moradabad, Bijnor & Buladsahar ,Store division (M) will issue road permits for its store centers i.e issue by store division Moradabad (mentioned on road permit with tin no.)



Now we are invoicing like (as per dispatch instruction given by customer)

Excise Invoice in name of store division Moradabad (M) i.e.consignee with tin no. of (M) in excise invoice.

Delivery challan/commercial invoice: sold to electricity board Meerut ( C ) and ship to address mentioned in delivery challan /Invoice are three sotre centers Moradabad , bijnor & bulansahar (separately) where actual delivery of material has to be done.



Is this correct transaction?

Sir/Madam,

does "Pre-cast concrete wall/floor panel" come under the term 'goods' as per the laws of the Central Excise Act, 1944?

these precast panels are then used to build a residential house by the real estate developer.

i have a doubt regarding its marketability as per the provisions of the central excise act.

if it is marketable then it will be excisable. so i want to know whether it is marketable as per the requirement of the act.

kindly reply asap

thanks & regards

gargi.

Dear Sir,

I want to ask that a party to whom we are selling the seat belt is giving a rejection bill on which that party is not charging the CST amount only excise duty is add into the basic amount on that rejection bill.Should we debited the cst amount on that rejection bill in case when party is not taking the cst amount on that rejection bill

Plese help me.

Thanks & Regards

vandana

hello sir i want to know that what is the rate of excise duty currently. are rate of excise different for all manufacturers or there is any general rate of excise duty & also what is the criteria of applicability of excise duty