Cenvat credit utilization
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 July 2014
To Any one pls answer,
We are the large importer of Aluminium scrap we paid 12% Basic duty & 4% additional duty on imported material. & Manufacture Aluminium ingot which sale in Indian market at very low price because of international market competition. due to this we are unable to utilized full duty credit to payment of duty which resulted accumulation of cenvat credit in large volume. is there any way to utilized or refund this duty?
We are the large importer of Aluminium scrap we paid 12% Basic duty & 4% additional duty on imported material. & Manufacture Aluminium ingot which sale in Indian market at very low price because of international market competition. due to this we are unable to utilized full duty credit to payment of duty which resulted accumulation of cenvat credit in large volume. is there any way to utilized or refund this duty?
PAWAN KUMAR
(Expert)
29 July 2014
Dear Sir,
As such there is no provisions under cenvat credit rules for refund of accumulated cenvat credit, however if you are exporting your goods under bond, refund can be claimed as per rule 5 of cenvat creit rules. Another option is also there, you may export your goods on payment of duty by utilizing cenvat credit and later on file rebate claim in department.
As such there is no provisions under cenvat credit rules for refund of accumulated cenvat credit, however if you are exporting your goods under bond, refund can be claimed as per rule 5 of cenvat creit rules. Another option is also there, you may export your goods on payment of duty by utilizing cenvat credit and later on file rebate claim in department.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Under marginal scheme
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Import of Software Service.
- TDS on Fixed Assets purchased
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Capitalgain tax purposes for valuation report compulsory
- TAX AUDIT ON PROFESSIONAL INCOME
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
