cenvat credit on removal of scrap on nil rate of duty
This query is : Resolved
08 March 2010
we are despatching our plastic scrap @nil rate of duty under notification 10/2006 dt. 01.0.2006
our product iv cannula(90183930)is dutiable @ 4% under notification 10/2006 amended by 58/2008
my query is that
have we to reverse the cenvat credit to excise duty as we are despatching scrap @ nill rate of duty
as for the exempted goods we are not liable to take the cenvat credit
pls advice
Thanks & rgds
RK Saini
we are despatching our plastic scrap @nil rate of duty under notification 10/2006 dt. 01.0.2006
our product iv cannula(90183930)is dutiable @ 4% under notification 10/2006 amended by 58/2008
my query is that
have we to reverse the cenvat credit to excise duty as we are despatching scrap @ nill rate of duty
as for the exempted goods we are not liable to take the cenvat credit
pls advice
Thanks & rgds
RK Saini
09 March 2010
In view of the definition of final products given in the CENVAT Credit Rules,2004, final products includes scrap as well. This has been explained in the Para 3.2 of Chapter 5 of Supplementary Instructions. As such taking scrap as final product, the all provisions regarding exempted goods would be applied and accordingly due treatment under Rule 6 of the CENVAT Credit Rules, 2004 is required to be done.
For further query, feel free to write sanjayinfbd@yahoo.com (M-09350048731) or visit, HNO. 2489/8,Faridabad(Haryana).
For further query, feel free to write sanjayinfbd@yahoo.com (M-09350048731) or visit, HNO. 2489/8,Faridabad(Haryana).
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