Timely Reversal of CENVAT Credit with Interest Prevents Additional Demand on Mixed Goods Production Under Central Excise Rules.

Timely Reversal of CENVAT Credit with Interest Prevents Additional Demand on Mixed Goods Production Under Central Excise Rules. https://www.taxtmi.com/highlights?id=71698 Reversal of CENVAT Credit - manufacture of dutiable as well as exempted goods - in a case where assessee avails the Cenvat credit on common input service and the same is used for exempted as well as dutiable goods and even at a later stage the assessee reverse the proportionate credit with payment of interest, if there is any delay in reversal of such credit the demand of 10%/6%/5% shall not sustain. - AT en-us Mon, 28 Aug 2023 08:17:22 +0530 Mon, 28 Aug 2023 08:17:22 +0530 TaxTMI RSS Generator Timely Reversal of CENVAT Credit with Interest Prevents Additional Demand on Mixed Goods Production Under Central Excise Rules. https://www.taxtmi.com/highlights?id=71698 Reversal of CENVAT Credit - manufacture of dutiable as well as exempted goods - in a case where assessee avails the Cenvat credit on common input service and the same is used for exempted as well as dutiable goods and even at a later stage the assessee reverse the proportionate credit with payment of interest, if there is any delay in reversal of such credit the demand of 10%/6%/5% shall not sustain. - AT Highlights Central Excise Mon, 28 Aug 2023 08:17:22 +0530 https://www.taxtmi.com/highlights?id=71698