Cenvat credit allowable or not
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2015
Material sent to customer alogwith excise sale invoice. but customer return the same material alongwith our original sale invoice. so in this stuation , cenvat credit is allowable or not. if allowable , what is the procedure to take cenvat credit in our excise book.
31 July 2015
You can take cenvat if any duty paid goods returned to factory on the basis customer invoice / even basing on your own invoice.
Make the entries in daily stock account/ other register maintained in this regard and cenvat register accordingly and at the time of removal of the same goods , you are required to reverse the cenvat at rate applicable on the date of removal.
If you have done further process of returned goods which amount to manufacture , need to pay the duty as normal removal.
See Rule No. 16
Make the entries in daily stock account/ other register maintained in this regard and cenvat register accordingly and at the time of removal of the same goods , you are required to reverse the cenvat at rate applicable on the date of removal.
If you have done further process of returned goods which amount to manufacture , need to pay the duty as normal removal.
See Rule No. 16
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