TaxTMI 
TaxTMI 
Cenvat credit on goods received free of cost
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....envat credit on goods received free of cost<br> Query (Issue) Started By: - shaji thomas Dated:- 3-11-2010 Last Reply Date:- 17-11-2010 Central Excise<br>Got 2 Replies<br>Central Excise<br>Whether Cen....
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....vat credit can be allowed on the imported goods supplied free of cost against the low grade material supplied initially. Both the consignments are accounted for in the excise records however in the ac....
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....counts/purchase ledger the free goods has not been accounted for as purchase and the value of this goods not considered for valuation in balance sheet's closing stock. Whether the CVD and SAD paid on ....
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....the free goods can be allowed as Cenvat credit? Reply By sri srivathsan: The Reply: The relevant Factor for taking cevat credit is manufature not the factors like replacement etc so assesee can take....
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.... only if its uased in relation to manufacture Reply By Surender Gupta: The Reply: I am in full agreement with the view of Mr. Sri Srivathsan that as long as imported goods have been used in relation ....
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....to manufacture of excisable goods, you can avail cenvat credit of CVD paid on such goods even though such goods have been received free of cost.<br> Discussion Forum - Knowledge Sharing ....