Dear forum members, Can u tell me the procedure to remove waste material of the factory with following consequences. 1. the waste material is of hazardious in nature. 2. such waste material is the mixture of both imported and local market raw materials, so duties both excise and customs needs reversal issues. 3. time limit and the appropriate officer (Who?) for the same. this is the practical issue at my company and i need to sort it out.
My view is that Rule 3(5C) provides only for reversal of cenvat credit taken on scrapped capital goods and not for inputs removed as waste, therefore, I think that no Cenvat credit to be reversed in this case.
CAclubindia
