CENVAT CREDIT
This query is : Resolved
19 August 2009
I CPL LTD.-uttrakhand purchase a raw material from ABC LTD..-mumbai, cenvat charged 10000, & directly delevered to NOVELTY PLASTIC -mumbai for labour job agst. Excise challan annexure 2 .
My questions :
1-Who will take cenvat credit on raw material purchase from ABC LTD. (Any notification please mention)
2-Will NOVELTY PLASTIC charged excise duty or service tax when he will raised invoice to CPL LTD.
Can we take VAT credit of material purchase within state for repair of machinery .any notification please mention.
CPL LTD. Has two units in himanchal & uttrakhand each turnover 100 laks.
These are SSI Unit or Not ?
My questions :
1-Who will take cenvat credit on raw material purchase from ABC LTD. (Any notification please mention)
2-Will NOVELTY PLASTIC charged excise duty or service tax when he will raised invoice to CPL LTD.
Can we take VAT credit of material purchase within state for repair of machinery .any notification please mention.
CPL LTD. Has two units in himanchal & uttrakhand each turnover 100 laks.
These are SSI Unit or Not ?
20 August 2009
It is assumed that you are not located in exzcise free zone.
Cenvat credit can be availed either by CPL or Movelty plastics depending on the choice. If Novelty plastics is going to discharge the ED on the finished materials based on the price of CPL sale then they can avail the credit.
Otherwsie he can work under Rule 4 (5) (a) / Not 214/86 as a job worker. Since the process amounts to manufacture there is no service tax liability
As long as the pr yr value of clearacens did not exceed Rs. 400 lakhs for all units taken together the same are SSI under central excise eligible for exemption upto Rs. 150 Lakhs.
Cenvat credit can be availed either by CPL or Movelty plastics depending on the choice. If Novelty plastics is going to discharge the ED on the finished materials based on the price of CPL sale then they can avail the credit.
Otherwsie he can work under Rule 4 (5) (a) / Not 214/86 as a job worker. Since the process amounts to manufacture there is no service tax liability
As long as the pr yr value of clearacens did not exceed Rs. 400 lakhs for all units taken together the same are SSI under central excise eligible for exemption upto Rs. 150 Lakhs.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Offsetting interest income against derivative trading losses
- Gst Sales of FY 2023-24
- RCM - commercial rent paid to URP under GST
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- TDS NUMBER SURRENDER
- My Last working day in current org is in novemebr 2024 but they are asking me to submit IT proof
- Indexation benefit applicability
- SEC 54 OF IT ACT
- Passed group 2 exams under wrong gender
- REQUIREMENT OF 15CB
- QUERY FOR RCM ON RENT
- APPEAL-CIT
- Payable outstanding for years disallowance
- Whether still royalty
- Issue of gst e invoice
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
