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Material procured removed as such in case of manufacturer
I would like to know about treatment of material being moved as such from factory. Same item is being used as material for final product and some times it is moved from factory as accessory or free replacement while it is under warrantee period. Pls suggest treatment for excise duty working and treatment to be given in RG1 and RG23 part 1, from : Bhavesh Parmar
Replies (2)
The inputs can be removed as such from the factory of manufacturer or premises of service provider on payment of an amount equal to cenvat credit availed when the credit was taken. In other words, it amounts to reversal of cenvat credit taken under rule 3(5) of cenvat credit rules 2004. Duty will be payable even if goods supply free of cost .
Thank you sir, but volume of as such removal is very high in our case as
Our main job is assembly. Is there any provision for these type of transactions
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