16 April 2016
Dear Experts, We are MFG and want to purchase the materials without payment of duty for export, please tell me the procedure To execute the CT-1 bond,
16 April 2016
Question is not clear. CT-1 is for "merchant exporter". Manufacturer exporter can purchase inputs on payment of duty and allowed to take cenvat credit. This credit can be utilised for payment of duty on other goods in India or duty can also be paid on exported goods. Duty paid on export can be claimed as REBATE under Rule 18. Excise deptt. will give this rebate in cash through direct credit to the bank account details provided.
Alternatively goods can be procured without payment of duty under Rule 19 of Central Excise Rules and Notification issued under this rule.
CAclubindia
