Dear All,
We are the chemical manufacturing company, our raw material in chemical form & we are dispatching the material in tanker. but we have used the our raw material for tanker washing in small qty but which canvat credit has been availed, can we reversed the same, please give the your opinions with legal aspect.
Chetan Pawar
Chemical Firm Seeks Guidance on CENVAT Credit Reversal for Tanker Washing; Process Documentation Recommended for Compliance. A chemical manufacturing company inquired about the eligibility to reverse CENVAT credit for raw materials used in tanker washing. One respondent suggested that if the input enhances product quality, similar to practices in the paint industry, there is no need to reverse the credit. Another respondent advised that if the washing process is essential and documented within the manufacturing process, CENVAT credit can be availed. They recommended creating a process flow chart to substantiate the claim and ensuring compliance with CENVAT credit rules, possibly consulting a technical head or Chartered Engineer for verification. (AI Summary)
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