Clearance of goods to sfis license holder.
This query is : Resolved
Hemant Bhandari
(Querist)
28 February 2014
A manufacturer is engaged in the manufacture of dutiable goods and cenvat credit on duty paid inputs are availed.
They want to supply goods to SFIS License Holder (at duty exempted rate) as per notification No.34/2006 Dt.14-06-2006, whether they have to reverse 6% on clerances as per Rule 6 of Cenvat Credit.
Please guide.
Thanks
They want to supply goods to SFIS License Holder (at duty exempted rate) as per notification No.34/2006 Dt.14-06-2006, whether they have to reverse 6% on clerances as per Rule 6 of Cenvat Credit.
Please guide.
Thanks
Arun Kumar Singh
(Expert)
28 February 2014
If you have take the cenvat credit on exempted goods then exempted final product should be clear after payment of duty @ 6%.
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