Can a manufacturer paying excise on FG claim refund of Additional Duty @ 4% ?
Suppose a manufacturer is importing inputs and pays Additional Duty @ 4% on such inputs. He then manufactures Excisable goods and sells them. He is collecting VAT and giving to the State Govt.
1) We know he can claim CENVAT CREDIT for the same. But can he instead claim refund of such Additional Duty and choose to pay the excise duty on Finished Goods by Cash.
2) Or, can he utilise the input credit of 4% for CENVAT for Excise on finished goods and take refund for the excess that lies in credit?
Please advise.
Regards.
CAclubindia
