Sales Returns - taken Cenvat Credit

[Laxmaiah Vanamamula]

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 

 

AI Summary

Cenvat credit on sales returns permitted subject to separate storage, intimation, accounting and duty if processing amounts to manufacture.
Returned finished goods must be kept separately and the local excise office immediately intimated; absent officer response within twenty-four hours, goods may be taken for processing. Cenvat credit on these goods may be availed and must be recorded in the Form V register. If the processing does not amount to manufacture, the quantum of Cenvat credit taken at receipt must be adjusted; if processing amounts to manufacture, duty is payable on the transaction value.