Exempted goods
This query is : Open
11 May 2011
When goods are supplied to manufacturer of non-conventional energy devices under notfn.6/2006 (sl.No.84), we need to reverse 5% of the transaction value as cenvat reversal. As per new amendment to rule 6(3) of cenvat credit rules, can we charge that 5% in the invoice to the customer with a condition that he should not take that as credit.
11 May 2011
Unless the contract is clear that you can charge the reversed amount, in normal course the reversal should be absorbed. You may examine whether maintianing separate records would result in less than 5% being reversed.
11 May 2011
Maintaining separate records is next to impossible. Can I charge say 100+5%+sales tax
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