Exempted goods
This query is : Open
11 May 2011
When goods are supplied to manufacturer of non-conventional energy devices under notfn.6/2006 (sl.No.84), we need to reverse 5% of the transaction value as cenvat reversal. As per new amendment to rule 6(3) of cenvat credit rules, can we charge that 5% in the invoice to the customer with a condition that he should not take that as credit.
Madhukar N Hiregange
(Expert)
11 May 2011
Unless the contract is clear that you can charge the reversed amount, in normal course the reversal should be absorbed. You may examine whether maintianing separate records would result in less than 5% being reversed.
11 May 2011
Maintaining separate records is next to impossible. Can I charge say 100+5%+sales tax
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
- Gst registered proprietorship firm
- Capitalgain tax purposes for valuation report compulsory
- TDS on purchase of under construction property from a reseller
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TDS on Fixed Assets purchased
- SALARY CAN BE CAPITALIZE
- Non filing of I T Returns
- TAX AUDIT ON PROFESSIONAL INCOME
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- 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
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
