I am cotton manufacturer cum exporter. I am availing notification No.30/2014. i ahve utilized capital goods credit on export(on payment of duty). After which i have been claimed refund the duties of excise paid on export till the last year. Now the range officers informed that the capital goods credit cannot be refunded but the inputs credit allowed to refund. This is correct or not. Hence i kindly request you to give the detailed procedures. Thanking you sir......
Menu
Detailed procedure
Replies (1)
Directly you cannot take the refund of duty paid on capital goods. There are two way for utilised cenvat credit on capital goods for export of goods. First is take a cenvat credit on capital goods then to removed finished goods after payment of duty under rule 18 of central excise rules 2002 then you can refund the duty againt the duty payment of export goods. The another way is procure the capital goods without payment of duty for the purpose of export under EPCG scheme.
Recent Threads
- Luxury premium car - Lease or Loan
- Income tax act 40 A (3)
- Transmission of deceased's shares in physical form
- Shall I pay GST payment for unkonwnly cancelled in
- Error in GSTR1 filing for October 25
- Inverted Rate structure .
- Exemption to be climed
- GST TDS u/s 51 Applicability on RBI and it's subs
- Time allowed to buy another asset
- ITR not processed for the FY 2024-25
Related Threads
CAclubindia
