TaxTMI 
TaxTMI 
Cenvat credit on Material received free of cost/Free replacement
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....envat credit on Material received free of cost/Free replacement<br> Query (Issue) Started By: - SNEHAL SHAH Dated:- 20-11-2013 Last Reply Date:- 21-11-2013 Central Excise<br>Got 1 Reply<br>Central Exc....
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....ise<br>R/sir, We are received input/Capital material Free of cost & duty involved in this consignment is Rs.40000=00 Approx . We have also received so many consignment ( Imported ) with payment of CV....
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....D and additional duty ( Total duty involved 75000=00 ) as a free replacement ( that means we are not sending regected material at outside india but party send material free replacement ) . Now my que....
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....stion is that : Is it we can availed cenvat credit on this material which was received under free replacement and free of cost basis ? for take a cenvat credit is it mandatory prepare GRN/Purchase or....
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....der ? Please guide to us sir , Thanks and regards, SNEHAL SHAH Reply By Sanjay Bhalerao: The Reply: Cenvat credit is available on FOC material received as Cenvat credit is on receipt of Inputs an....
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....d not on payment to supplier. Reg. GRN/Purchase order:- Any means which proves that material is received and used in the factory of manufacture is sufficient. Regarding Material not sent back to su....
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....pplier:- Attributable Cenvat Credit needs to be reversed in case no manufacturing activity is carried out on such material.<br> Discussion Forum - Knowledge Sharing ....