Laibility?
This query is : Resolved
13 July 2013
i am manufacturing pvc pipes and paying exercise duty on the same. I am also assembling/manufacturing hand pumps for which pvc pipe is a raw material. Now, i am maintaining separate books of account for pvc pipes used in hand pumps and not paying duty on that as excise is exempted on hand pump and its part.(https://www.cbec.gov.in/excise/cx-act/notfns-2k6/cex0606.pdf)
Is it technically correct for me to do so?
Is it technically correct for me to do so?
13 July 2013
You can not take the cenvat credit on input used in the manufacturing of exempted goods. The books of account will be maintained separate.
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