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 credit under 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

Reversal of Cenvat credit may be required where notification conditions are unmet, otherwise no reversal if conditions satisfied.
If the supplier fails to meet Notification No.12/2012 conditions or the product is not covered, reversal of Cenvat credit is required with interest paid in cash and adjustments made via revised returns or ER-1; if all notification conditions are satisfied and supply is direct with no intermediary, no reversal is necessary.