Remission of Duty

[POLYPLEX CORPORATIONLTD]

Dear Experts

Please tell me time period for filing remission of duty application under rule 21?

As per notification No. 33/2007- CE (NT), dated 07.09.2007 - "the CENVAT credit taken on the inputs used in the manufacture or production of said goods and the CENVAT credit taken on input services used in or in relation to the manufacture or production of said goods shall be reversed."

But the above is for finished goods, if scrap is destroyed due to fire then how to reverse the duty?

AI Summary

Remission of duty requires reversal of proportionate CENVAT credit when remitted goods, including scrap treated as finished product, are destroyed.
Rule 21 of the Central Excise Rules, 2002 contains no prescribed time limit for applying for remission of duty. When duty is remitted on destroyed or otherwise unfit manufactured goods, the assessee must reverse the proportionate CENVAT credit attributable to inputs and input services under the Cenvat Credit Rules, 2004. Scrap that is treated and classifiable as a finished product is subject to duty and therefore to the reversal obligation; scrap not treated as a finished product is not dutiable and does not attract reversal.