Cenvat credit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2012 An SSI Unit claiming duty exemption within the limit of 1.5 crores issued a cenvatable invoice without duty. Subsequently they have crossed the exemption limit and then start billing invoice with payment of duty.

Can they issue supplementary invoice for price revision with duty now, for invoices pertains to the period when they are in SSI exemption limit.

Illustriatively, on 10.10.2012, they are crossed exemption limit, upto 10.10.2012 they are not paying excise duty from 11.10.2012, they started paying excise duty. For invoices raised on 05.10.2012,(without duty) whether supplementary invoice for price revision can be raised on 15.10.12 with duty

Arun Kumar Singh

Arun Kumar Singh (Expert)
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20 October 2012 Goods has been cleared from factory without payment of duty. If price will be increase you can pay the excise duty on remaining balance.