https://www.taxtmi.com/forum/issue?id=108805 Availing CENVAT credit on packaging material triggers an obligation to reverse the equivalent credit when such material is cleared as scrap; practitioners recommend either a Chartered Engineer certificate showing nil market value or payment of duty on the transaction value, and warn that auditors may require reversal with interest and penalties if credit is retained while scrap is cleared without duty. en-us Wed, 24 Jun 2015 13:03:00 +0530 Thu, 23 Jan 2025 15:56:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=108805 Availing CENVAT credit on packaging material triggers an obligation to reverse the equivalent credit when such material is cleared as scrap; practitioners recommend either a Chartered Engineer certificate showing nil market value or payment of duty on the transaction value, and warn that auditors may require reversal with interest and penalties if credit is retained while scrap is cleared without duty. Discussion-Forum Central Excise Wed, 24 Jun 2015 13:03:00 +0530 https://www.taxtmi.com/forum/issue?id=108805