28 March 2009
we are a cement manufacturars, supplying cement to SEZ Developers @ nil rate of duty. But department has issued a notice stating that as per sub-rules (1) (2) (3) and (4) of Rule (6) of the Cenvat Credit Rules 2004 we need to maintain seperate records and need to reverse cenvat credit proprtinately (Cenvat availed against inputs used for manufactring cement for supplying to SEZ developers). Otherwise need to pay 10% of sales value to the department.
29 March 2009
Before January, Rule 6(6) didnt exempt supply to SEZ developers from the operation from Rule 6 of Cenvat Credit Rules. Your issue needs complete professional examination, so that you can defend the notice.
CAclubindia
