Diversion of credit taken on inputs for exempted products under the North-East notifications for payment of central excise duty on other products -reg.

Diversion of credit taken on inputs for exempted products under the North-East notifications for payment of central excise duty on other products -reg. https://www.taxtmi.com/circulars?id=477 CENVAT credit of duty paid on inputs used in manufacture of final products cleared after availing the North-East exemptions may be utilised only for payment of duty on products cleared under those same exemptions. Refunds under the North-East scheme are limited to the duty paid less the amount of CENVAT credit availed in respect of inputs used for goods cleared under the corresponding exemption, thereby preventing diversion of input credit to pay duty on other products and disallowing excess refunds. en-us Tue, 24 Dec 2002 00:00:00 +0530 Tue, 23 Sep 2008 17:27:00 +0530 TaxTMI RSS Generator Diversion of credit taken on inputs for exempted products under the North-East notifications for payment of central excise duty on other products -reg. https://www.taxtmi.com/circulars?id=477 CENVAT credit of duty paid on inputs used in manufacture of final products cleared after availing the North-East exemptions may be utilised only for payment of duty on products cleared under those same exemptions. Refunds under the North-East scheme are limited to the duty paid less the amount of CENVAT credit availed in respect of inputs used for goods cleared under the corresponding exemption, thereby preventing diversion of input credit to pay duty on other products and disallowing excess refunds. Circulars Central Excise Tue, 24 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/circulars?id=477