Repair or Reconditioning of Return Goods - Where the process is not amounting to manufacture - cenvat credit is required to be reversed on inputs used in repairing or reconditioning of goods

Repair or Reconditioning of Return Goods - Where the process is not amounting to manufacture - cenvat credit is required to be reversed on inputs used in repairing or reconditioning of goods https://www.taxtmi.com/news?id=815 Modifications consisting of dismantling and reconditioning of returned motors did not amount to manufacture; therefore, cenvat credit taken on inputs used in repair/reconditioning must be reversed equal to the credit taken, creating differential duty liability when subsequent clearances attract lower duty, and refund claims for countervailing duty credit on similarly modified re-imported goods were not sustained while penalties were deemed unwarranted. en-us Fri, 01 May 2009 08:41:46 +0530 Fri, 01 May 2009 08:41:46 +0530 TaxTMI RSS Generator Repair or Reconditioning of Return Goods - Where the process is not amounting to manufacture - cenvat credit is required to be reversed on inputs used in repairing or reconditioning of goods https://www.taxtmi.com/news?id=815 Modifications consisting of dismantling and reconditioning of returned motors did not amount to manufacture; therefore, cenvat credit taken on inputs used in repair/reconditioning must be reversed equal to the credit taken, creating differential duty liability when subsequent clearances attract lower duty, and refund claims for countervailing duty credit on similarly modified re-imported goods were not sustained while penalties were deemed unwarranted. News - Fri, 01 May 2009 08:41:46 +0530 https://www.taxtmi.com/news?id=815