We cleared some Finished Material to Buyer(before 8 Months),presently the Buyer returned Partially Goods from above
the The Question is what is Proceeser of entered the above goods & taken Cenvat Credit,
Please reply as early as Possible,
Thanking You,
from,
V.Laxmaiah, Sudhakar Pipes
Guidance on Handling Returned Goods and Claiming Cenvat Credit Under Rule 16 of Central Excise Rules 2002 A query was raised regarding the procedure for handling returned goods and claiming Cenvat Credit under Central Excise rules. The response advised referring to Rule 16 of the Central Excise Rules 2002. It instructed that returned goods should be kept separately and the local excise office should be informed immediately. If there is no response within 24 hours, the goods can be processed further. Cenvat Credit can be claimed and recorded in the Form V register. If the process does not amount to manufacture, the credit must be reversed; otherwise, duty on the transaction value is payable. (AI Summary)
TaxTMI 
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