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Cenvat credit rules discussion

Madhavi (CA - FINAL) (1342 Points)

10 July 2012

Pl. join

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CA Rajguru (Propritor) (132 Points)
Replied 10 July 2012

Originally posted by : Madhavi
	Pl. join

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Madhavi (CA - FINAL) (1342 Points)
Replied 10 July 2012

hai kushboo where r u

Prashanth (Chartered Accountant) (2322 Points)
Replied 10 July 2012

which topic?

Madhavi (CA - FINAL) (1342 Points)
Replied 10 July 2012

previously we discussed credit rules know same, pl start that only

Prashanth (Chartered Accountant) (2322 Points)
Replied 10 July 2012

If the manufacturer or service provider removes any input or capital goods as such from his premises...in such case they have to paid the amount which was taken earlier in the books in respect of such item....

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Prashanth (Chartered Accountant) (2322 Points)
Replied 10 July 2012

The above provision mentioned under rule-3(5) of CCR

Madhavi (CA - FINAL) (1342 Points)
Replied 10 July 2012

a table for how much amount is liable is there u tell that also

Prashanth (Chartered Accountant) (2322 Points)
Replied 10 July 2012

Next Rule:-3(5B)

If the manufacturer or provider of output service

written off fully or partially an amount

or makes any provision to write off fully or partially

in respect of inputs or

capital goods(before put into use) on which cenvat credit taken...in such case they have to pay amount to the extent taken previously on such items.....

Madhavi (CA - FINAL) (1342 Points)
Replied 10 July 2012

actually what is cenvat credit if any one purchases inputs the tax paid on that purchases will given as an exemption for future purchases . In this line i am not getting the rule 3 (5) and 3 (5B). pl explain in normal terminology

Madhavi (CA - FINAL) (1342 Points)
Replied 10 July 2012

yes i got it , go to next. i have doubt that how we will get questions relating to these rules

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Prashanth (Chartered Accountant) (2322 Points)
Replied 10 July 2012

Excise duty paid by the manufacturer on input or capital goods in such case the manufacturer can take that amount as cenvat credit for the payment of future excise duty on his production of final ggod....provided he uses such input or capital goods for the purpose of excisable goods...otherwise he cannot take...