Cancellation of pending ct3 and re- credit proportion of th

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 November 2011 Dear Sir

With reference to the above subject we had issue the CT- 3 to our supplier and they are supplied partially. The balance quantity they are unable to supply due to the shortage of there raw material and also the prices is gone up for the same. Now we have cancelled the balance quantity order and balance qty amount we can take credit or not? What is next producer please quid me sir

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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25 November 2011 All the EOUs are required to execute a single all purpose bond i.e B-17 bond undertaking themselves to fulfil the conditions stipulated in the exemption notification of EOU scheme. This bond is taken to take care of the interests of revenue arising out of goods lost in transit, goods taken into Domestic Tariff Area for job work/ repair/ display etc but not brought back etc. The bond is executed with the jurisdictional Assistant Commissioner of Customs/Central Excise in charge of the unit. The format of the bond is prescribed vide notification No. 6/98-CE ( NT) dated 2-3-1998. The bond covers the activities which include, inter alia, transhipment of import /export goods between port of import/export and units' premises; duty-free import/procurement from the indigenous sources as per relevant notification and warehousing/storage in the unit; movement of duty-free goods for job work and return; temporary clearance for repair and display in exhibitions, testing/approvals etc.; and movement of goods against AR-4, AR-3A and CT-3 etc.

in this case, you have cancelled the order , tell me how can take credit.

in this regard write al letter for DC concerned .

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