Ram kr. (Buisness) (883 Points)
01 July 2014
Venkatanarayana GM
(Partner associate at Hiregange & Associates)
(1279 Points)
Replied 08 July 2014
Dear Mr. Ram
It is essential condition that, you should use the same in your business for manufacturing of excisable goods on which you are going to charge the duty
Extract of Law "
Capital goods and inputs captively consumed within the factory of production
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excises and Salt Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts -
(i) capital goods as defined in rule 57Q of the Central Excise Rules, 1944 manufactured in a factory and used within the factory of production;
CAclubindia
