We are a manufacturer and we are purchasing sewing machines from another manufacturer on which Excise duty is charged by the manufacturer @ 1%...............
Can we take the CENVAT Credit of the Excise duty charged by him??????????????
Shriram Gupta (Practicing Professional) (236 Points)
06 June 2012We are a manufacturer and we are purchasing sewing machines from another manufacturer on which Excise duty is charged by the manufacturer @ 1%...............
Can we take the CENVAT Credit of the Excise duty charged by him??????????????
Amrut
(Student)
(95 Points)
Replied 06 June 2012
No credit of excise duty will not be available.
An excise duty of 1% without Cenvat credit facility is being imposed on about 130 specified Items, which were hitherto either fully exempt from excise duty or chargeable to nil rate ofexcise duty.
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