Refund of accumulated Cenvat Credit against Deemed Export
This query is : Resolved
10 May 2009
Dear Sir,
We are manufacturer and are selling material to 100% EOU against CT - 3, on which no excise duty is payable resulting accumulation of Cenvat Credit.
Is it possible to take refund of such accumulated Cenvat Credit? Please also guide for the procedure to be followed ?
We are manufacturer and are selling material to 100% EOU against CT - 3, on which no excise duty is payable resulting accumulation of Cenvat Credit.
Is it possible to take refund of such accumulated Cenvat Credit? Please also guide for the procedure to be followed ?
11 May 2009
No, it is not possible to take refund of credit accumulated due to deemed export.
Supply to EOU on payment of duty. The buyer EoU can use the credit in DTA clearance of goods.
Supply to EOU on payment of duty. The buyer EoU can use the credit in DTA clearance of goods.
Message likes :
1 times
12 May 2009
Dear Mr Rajesh,
1 To fulfill EPCG Export bligation, is sales to EOU with Excise Duty is covered ?
2 Is there any problem to get refund of such Excise Duty ie Terminal Excise Duty from DGFT, in respect of EPCG Licence Obligation ?
Thanks
Suren
1 To fulfill EPCG Export bligation, is sales to EOU with Excise Duty is covered ?
2 Is there any problem to get refund of such Excise Duty ie Terminal Excise Duty from DGFT, in respect of EPCG Licence Obligation ?
Thanks
Suren
19 May 2009
As of now it is credit cannot be refunded. Better to charge the same and EOU goes for refund.
Representation to the new GOIvt may also be made.
Representation to the new GOIvt may also be made.
Message likes :
1 times
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
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- Offsetting interest income against derivative trading losses
- GST Annual Returns filing due date
- Payable outstanding for years disallowance
- RCM - commercial rent paid to URP under GST
- SEC 54 OF IT ACT
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Whether still royalty
- Need help with business structure for setting up a new business
- TDS applicability on Service through ECO
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
