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TaxTMI 
Sales Returns - taken Cenvat Credit
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....ales Returns - taken Cenvat Credit<br> Query (Issue) Started By: - Laxmaiah Vanamamula Dated:- 31-1-2011 Last Reply Date:- 31-1-2011 Central Excise<br>Got 1 Reply<br>Central Excise<br>We cleared some ....
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....Finished Material to Buyer(before 8 Months),presently the Buyer returned Partially Goods from above the The Question is what is Proceeser of entered the above goods & taken Cenvat Credit, Please rep....
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....ly as early as Possible, Thanking You, from, V.Laxmaiah, Sudhakar Pipes Reply By Mangesh Lokre: The Reply: Please refer the Rule 16 of CER 2002. The sales returned goods needs to be kept sepera....
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....tely and have to intimate to local excise office immediately after receipt. IF the officer doesnt react within 24hr from the date of intimation, you have to take the goods for further processing. Yo....
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....u can avail the CEnvat credit of these goods which has to be accounted in Form V register. If you have take the Cenvat Credit and the process which you are going to carried out doesnt amount to manuf....
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....acture then the quantum of cenvat credit needs to be pass which was taken at the time of receipt If the process carried out amounts to manufacture, then the duty needs to paid on transaction value. ....
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....Hope this clears your doubt.<br> Discussion Forum - Knowledge Sharing ....