Doubt in setoff of excise duty
This query is : Resolved
31 December 2011
A Paper Manufacturing company is purchasing Chemicals on which Excise duty is 5% & 10% + Ed.Cess & Sh.Ed.Cess.
Excise duty payable on manufactured Paper is 5% + Ed.Cess & Sh.Ed.Cess.
My Doubt is, is Excise duty paid @ 10% on chemical purchases is available to setoff Excise duty payable on paper production @ 5%?
Thanks in Advance.
Excise duty payable on manufactured Paper is 5% + Ed.Cess & Sh.Ed.Cess.
My Doubt is, is Excise duty paid @ 10% on chemical purchases is available to setoff Excise duty payable on paper production @ 5%?
Thanks in Advance.
RAMESH KUMAR VERMA
(Expert)
02 January 2012
BCD is 10%
cvd 5%,
CE edu cess:3%,
cus edu cess :3%,
If manufacturer is registered in excise, FILL UP UT-1 bond and can take CENVAT AND DEPB / DRAWBACK. IN THIS CASE NO LIABILITY OF DUTY NOT ADMISSIBLE AT THE TIME OF EXPORT.
REGARDS,
cvd 5%,
CE edu cess:3%,
cus edu cess :3%,
If manufacturer is registered in excise, FILL UP UT-1 bond and can take CENVAT AND DEPB / DRAWBACK. IN THIS CASE NO LIABILITY OF DUTY NOT ADMISSIBLE AT THE TIME OF EXPORT.
REGARDS,
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