we are manufacturing Dutiable and non-dutiable goods (Exempted) in our manufacturing plant in chennai and both the goods are manufacturing in the same premises with separate storage locations, we are availing input credit for dutiable goods only. we are receiving the (ISD credit and Plant Specific credit) Input credit of service tax from ISD (from HO) accordingly we are utilizing for payment of Excise Duty every month. '' we are reversing the proportionate turnover (non-exempted and exempted) basis for ISD credit and specific credit which we are availing every month''
My doubt is: As per new notification issued by central excise 13/2016-central Excise (N.T).Dated-01.03.2016
My understating is the above reversal is not required because we are not availing input credit for exempted goods only availing non-exempted goods and availing input service tax (ISD and specific credit) received from ISD (HO mumbai).
Kindly clarify the new notification no.13/2016-C.E (N.T) Dated 01.March,2016.
CAclubindia
