The percentage of Weighbridge difference that is allowed for Cenvat credit is----------------------------
Cenvat credit on Weighbridge difference
Asked by
Cenvat credit on weighbridge variance: permissible error recognized and credit for inputs lost during processing remains allowable.
Cenvat credit for weighbridge differences in cement is governed by Board circular guidance recognizing a permissible weighment error and by precedential authority that credit on inputs lost or consumed in processing (such as waste in repacking where repacking amounts to manufacture) is not automatically disallowed; no single uniform percentage is prescribed and allowances should be applied by analogy to transaction facts. (AI Summary)
Cenvat credit for weighbridge differences in cement is governed by Board circular guidance recognizing a permissible weighment error and by precedential authority that credit on inputs lost or consumed in processing (such as waste in repacking where repacking amounts to manufacture) is not automatically disallowed; no single uniform percentage is prescribed and allowances should be applied by analogy to transaction facts. (AI Summary)
TaxTMI