Please explain me if there is rejection from the customers....Cenvat Credit which they claimed during the clearance of home consumption can they reverse it and again eligible for that amount of Cenvat Credit?
I will explain that further more with an example.
Suppose On Nov. 2011 there is a customer rejection of Rs.100000 on the sales made during that month and previous months. The Cenvat Credit which they claimed at the time of removal for home consumption is Rs.10000 for that sale amount. Since the sales return has happened can they again claim this Rs.10000 for the removal of goods for home consumption for the month of December 2011.?
1)If yes what are the rules to be followed? Can anybody quote me the rules of central excise so that i can study that.
2)Some Sales returns are sold as scrap, in such case for that too whether they have to pay excise duty on that transactional value?
CAclubindia
