If we store excisable raw material in hired godown which is out of factory. Is there is any rule of excise to take cenvat credit of that RM.
Please reply...
Regards,
Sushil.
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CENVAT CREDIT OF GODOWN
Replies (1)
I think You cannot take credit in such case... There is Provision in Rule 8 of Cenvat Credit Rules, by which If we get permission of Divisional AC/DC, he may allow us to store Inputs outside the factory and in that case we can take credit of such inputs....
Anyways, Whenever such raw material enters your factory for processing/production, book your credit on it.... but you cant claim it on thta RM lying in that hired godown.
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