CA.B.Sivakumar (-) (162 Points)
11 August 2011
Dear Sir,
We're claiming abatement @ 35% on pharma products for the finished goods and paying the balance as excise duty .
My question
- Is it possible to avail cenvat credit on purchase and other input services fully?
- Will it make any difference while availing the CENVAT credit from ISD invoices?
- Whether it Is affected by the amendment of scope of exempted services made in finance act 2011?
expecting your reply at the earliest.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 11 August 2011
35% abatement of pharma products is covered under MRP rules and govered by notification no 02/2005 CE(NT) dt 07/01/2005 as amended.
this notification does not bar any cenvat credit.
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 12 August 2011
Your cenvat credit from input, input service ISD are all regular .This has nothing to do with abatement under CE.
CAclubindia
