Rahul (Partner) (67 Points)
13 March 2012If in a manufacturing concern if raw material is used for manufacture of both excisable and non excisable goods, how to take the cenvat credit on the raw materials to the extent of excise duty paid on finished goods??
Can anybody please suggest me a procedure for this as per the CENVAT credit rules
Thank You
Arvind Sharma
(ACA)
(1432 Points)
Replied 13 March 2012
In that case, the concept of "one to one relationship" applies and proper document with respect to use/utilisation of input are maintain to know the extent to which CCR not to avail or amount to be paid..
Other alternative is not maintain any document and pay amount equal to 5% of value of exempted good (if they assume as duitable)..
For the same, you can refer Rule 6 of CCR, 2004...
CAclubindia
