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.
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