Excise duty on power used for captive consumption
This query is : Resolved
08 January 2011
Dear Sir/Madam
My questions are:
01.Is power used for captive consumption liable to excise duty?
02.Can we avail cenvat credit if 80% power used for captive consumption and 20% sold to outside party?
03.What are required documents to be maintained for the above two purposes?
My questions are:
01.Is power used for captive consumption liable to excise duty?
02.Can we avail cenvat credit if 80% power used for captive consumption and 20% sold to outside party?
03.What are required documents to be maintained for the above two purposes?
08 January 2011
As per my understanding, Excise duty is not applicable on Power.
07 July 2011
No excise duty applicable on electricity generated & used for captive consumption
Cenvat credit to the extent 80% available & balance 20% to be reversed if already availed.
Records on inputs, capital goods & input services for power generation, cenvat credit availed,power units generated, units consumed capitively & units sold to outside party to be maintained. Cenvat credit to be availed only on inputs, capital goods & input services used in captive consumption.
Cenvat credit to the extent 80% available & balance 20% to be reversed if already availed.
Records on inputs, capital goods & input services for power generation, cenvat credit availed,power units generated, units consumed capitively & units sold to outside party to be maintained. Cenvat credit to be availed only on inputs, capital goods & input services used in captive consumption.
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
- DELIVERY GOLD & SILVER AND OTHER ETF TRADING PROFIT AS BUSINESS INCOME
- GSTR-1A How to update Invoice
- Excess salary payment.
- 3cd- cash system of accounting is allowed?
- Provision for loans that are under Revenue Recovery
- Form 121-contradictory opinions
- APPLICABILITYOF GST ON STUDENT HOSTEL FEES
- Capital gain from sale of house property
- Is Personal Guarantee of Director is Compulsory in case of loan to company ??
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Sale Incentive booking
- Negative ITC in Table 4(A)(5)
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
