Please explain the the rule 16(1)(2)(3)(2002) of central ex

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Accountant
295 Points Joined March 2010

Dear all Experts

Please  explain the the rule 16(1)(2)(3)(2002) of central exice.We purchase Wheelnut spanner (Hand Tool) can we take cenvat credit of it or not.We purchase it from Vendor after that we do labeling and packing of that (hand tool)material.Please guide.

 

Thanx & Regards,

Amit Singh

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On 30 September 2011 at 12:07 Report
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Chartered Accountant
1441 Points Joined September 2008

Practically what you can do is :

Take cenvat credit on the purchases. Treat packing and labeling activity as manufacture. Pay e/duty on sales amount at the time of sales.

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On 05 October 2011 at 21:32


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