Dear Sir,
We're claiming abatement @ 35% on pharma products for the finished goods and paying the balance as excise duty .
My question
- Is it possible to avail cenvat credit on purchase and other input services fully?
- Will it make any difference while availing the CENVAT credit from ISD invoices?
- Whether it Is affected by the amendment of scope of exempted services made in finance act 2011?
expecting your reply at the earliest.
35% abatement of pharma products is covered under MRP rules and govered by notification no 02/2005 CE(NT) dt 07/01/2005 as amended.
this notification does not bar any cenvat credit.
Your cenvat credit from input, input service ISD are all regular .This has nothing to do with abatement under CE.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
