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
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.
CAclubindia
