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Excise duty on scrap
We're going to purchase fly ashes from a thermal power manufacturing company as scrap. As per TCS terms we have to pay them additional 1% of total value with the purchase price. Then what will be the excise duty scenario since it is manufacturing aspect?
Replies (1)
Pl refer Indian aluminium case law, wherein it decided that, fly ashes are came out as process of purification and not a manufacturing scrap.
However, manufacturer will have to comply with Rule 6 of Cenvat credit rules 2004
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