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of <h1>Central Board clarifies Rule 16: Credit for returned goods valid with invoice; duty deemed discharged by next month.</h1> The circular from the Central Board of Excise and Customs clarifies the procedure for availing credit of duty on goods returned to the factory under Rule 16 of the Central Excise Rules, 2002. It states that the invoice for returned goods is valid for claiming credit, and the duty is considered discharged. Rule 16(1) allows the assessee to avail credit on their own invoice, and the process is revenue neutral as the duty must be paid by the 5th of the following month. Credit on rejected or returned goods received before the duty payment date is permissible.
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