we have imported butterfly valves from china. we have not processed it further. we have taken cenvat credit on Cvd, Edu-cvd, Shec-cvd & Add duty. now we are going to sell them. we should pay Excise duty on sale of these goods are not ?
24 September 2010
As per provision of Cenvat credit Rules, one has to reverse the Cenvat credit (including SAD also) taken at the time of purchase of inputs if these are sold as such. you have told that you are removing them as such. Hence, you have to reverse the Cenvat credit irrespective of your sale price.
CAclubindia
