A company is engaged in the manufacture of Steel Ingots and Sariya. They recently bought a new machinery which required construction of a shed. The Sariya manufactured for sale was used within the factory for such construction. Is Excise Duty to be levied on the Sariya? If yes, is CenVat Credit allowed on such Excise Duty charged on the company by its own self?
This is a case of captive consumption ,cenvat credit is allowed on inputs and duty has to be discharged on outputs including this captive consumption
| Originally posted by : sivaram | ||
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This is a case of captive consumption ,cenvat credit is allowed on inputs and duty has to be discharged on outputs including this captive consumption |  |
AGREE
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