Company A has manufactured a equipment and it is packed ready for despatch as per customer B's specifications
Now customer B has cancelled the order
What are excise implication for company A as it has dismantled the entire equipment and this will be used for manufacture of fresh equipment
Is it required to reverse the Cenvat credit on raw materials used for manufacture of the said equipment and make necessary entries in DSA and the Cenvat register.
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excsie implications
Replies (1)
The machine was not dispatched, so it must be in RG-1.
Take it out of RG-1 for captive consumption, dismantle it and use the verious components for other manufacturing. No reversal of duty is required.
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