cenvat credit
This query is : Resolved
28 July 2009
it wil b agrt help to me if anybody can help me about d cenvat provisions regarding exempted goods and services. as given in rule 6 of cc rule??????also with example.
29 July 2009
Cenvat credit is available only when the final product is dutiable. Thus no credit is available if input is going into exempted product.
There may be a situation where there is a common input (not capital goods) which is used in manufacture of both exempted & dutiable product. Rule 6 deals with this situation. The manufacturer is required to maintain separate records or reverse duty proportionately or pay an amount of 5% on exempted product.
There may be a situation where there is a common input (not capital goods) which is used in manufacture of both exempted & dutiable product. Rule 6 deals with this situation. The manufacturer is required to maintain separate records or reverse duty proportionately or pay an amount of 5% on exempted product.
29 July 2009
5% on exempted products??? i think it is 10% for goods. please check that.and tell me please
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