In my company books we have huge accumulation of cenvat balance as our Input purchases are at 12% but the output Tax rate is @ 6%. My 70% purchases are imported.I have two scenarios:-
The Material Imported against advance License: Right now we are not paying excise duty on same.Can we pay duty and claim rebate under rule 18 of of central excise rules 2002.
The Material purchased aganist ICGRDMEG scheme, concessional rate of duty.: Items manufactured are exported also but right now we are not paying excise duty on same.Can we pay duty and claim rebate under rule 18 of of central excise rules 2002.
CAclubindia
