https://www.taxtmi.com/news?id=755 Amendments permit SSI units to clear specified packing materials bearing another's brand name, now including plastic bags, and to avail Cenvat credit on inputs for those dutiable clearances; CBEC had issued a circular citing a Supreme Court decision against simultaneous credit and exemption while a tribunal decision supported permissibility and an appeal was pending, and the amendment effectively allows concurrent benefit. A remaining compliance issue is that turnover for SSI threshold is calculated after excluding values of dutiable branded clearances, creating potential disputes if departments challenge such deductions, prompting a call for CBEC clarification. en-us Thu, 19 Feb 2009 11:46:36 +0530 Fri, 20 Feb 2009 16:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=755 Amendments permit SSI units to clear specified packing materials bearing another's brand name, now including plastic bags, and to avail Cenvat credit on inputs for those dutiable clearances; CBEC had issued a circular citing a Supreme Court decision against simultaneous credit and exemption while a tribunal decision supported permissibility and an appeal was pending, and the amendment effectively allows concurrent benefit. A remaining compliance issue is that turnover for SSI threshold is calculated after excluding values of dutiable branded clearances, creating potential disputes if departments challenge such deductions, prompting a call for CBEC clarification. News - Thu, 19 Feb 2009 11:46:36 +0530 https://www.taxtmi.com/news?id=755