Reversal of Cenvat credit

[Pushkar Gupta]

Dear Sir

It has been sold Goods electrical equipment under mega power project without excise duty, customer has given certificate under Notification 12/2012 central excise SL 339 as amended 34/2012 for excise duty exemption. Following are my queries.

1. Is it required to reversed Cenvat creditunder Rule 6.

2. If yes how to intimate Central excise Deptt when we have already filled excise return. Since goods has been cleared in various months.

Thanks in advance.

Pushkar Gupta

AI Summary

Clarification on Cenvat credit reversal under Rule 6 for tax-exempt electrical equipment sales in mega power projects. A discussion on the reversal of Cenvat credit under Rule 6 in the context of selling electrical equipment without excise duty under Notification 12/2012 for a mega power project. The initial query asks if reversal is required and how to inform the Central Excise Department after filing returns. Responses suggest that if the final product is exempt, reversal of input tax credit is necessary, possibly with interest, and can be addressed in revised returns. Further clarification is needed to ensure compliance with Notification 12/12-CE conditions, confirming direct supply to the project without intermediaries to avoid reversal.