Material procured removed as such in case of manufacturer
BHAVESH PARMAR (MANAGER ACCOUNTS) (45 Points)
19 February 2014BHAVESH PARMAR (MANAGER ACCOUNTS) (45 Points)
19 February 2014
Arun Kumar Singh
(GST Advocate)
(15220 Points)
Replied 19 February 2014
The inputs can be removed as such from the factory of manufacturer or premises of service provider on payment of an amount equal to cenvat credit availed when the credit was taken. In other words, it amounts to reversal of cenvat credit taken under rule 3(5) of cenvat credit rules 2004. Duty will be payable even if goods supply free of cost .
BHAVESH PARMAR
(MANAGER ACCOUNTS)
(45 Points)
Replied 19 February 2014
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)