Exemption Rate of Duty

[RAM SHARMA]

Dear Experts,

We are manufacturing 5 to 6 product of  different rate of duty. Some of them exemption rate of duty 6% and some is 12% rate of duty. Can we take cenvat credit simultaneously and utilised for payment of duty of all product. There is any need to maintain separate record for separate product.

Thanks

[YAGAY andSUN]

No, there is no need to maintain the Separate Set of Accounts for this.

AI Summary

Cenvat credit usable across products with differing duty rates; no separate set of accounts required. Manufacturers may take and utilize Cenvat credit for payment of duty on goods carrying different duty rates without maintaining separate sets of accounts for each product; ordinary records sufficient to substantiate credit availed and its application are acceptable.