Dear All,
If a company manufactures both non dutiable and dutiable goods from the same raw material e g ethanol and liquor from molasses. How the cenvat credit on such dutiable product be determined ?
Liquor is not covered under section 3 of the act. Thus it would be non dutiable.
Regards,
Varun
Menu
allocation of cenvat credit
Replies (3)
hi
first- follow Rules of Cenvet Credit , credit is allowed if u follow these rules however seperate books are to maintained or otherwise 10% of sale price of exempted goods have to paid at the time of removal.
second- entry 84 does not empowered CG to charge excise duty on liquor but entry 51 outhorise state government to charge duty on drugs,liquor etc. thats why tax rates are different in different states on liquor.
first- follow Rules of Cenvet Credit , credit is allowed if u follow these rules however seperate books are to maintained or otherwise 10% of sale price of exempted goods have to paid at the time of removal.
second- entry 84 does not empowered CG to charge excise duty on liquor but entry 51 outhorise state government to charge duty on drugs,liquor etc. thats why tax rates are different in different states on liquor.
hi
i am totally agree with mr. nikhi.
Ashish Guptl
i am totally agree with mr. nikhi.
Ashish Guptl
Ditto
Recent Topics :
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
Related Topics :
CAclubindia
