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valuation, treatement cenvat credit
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....aluation, treatement cenvat credit<br> Query (Issue) Started By: - JAYARAMAN M Dated:- 12-1-2014 Last Reply Date:- 14-1-2014 Central Excise<br>Got 1 Reply<br>Central Excise<br>in the case of manufactu....
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....ring industries, kindly elucidate the following 1. treatment of samples removed from factory, valuation, payment of duty etc. 2. in the case of ramaterial, wip,&nbs....
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....p; finished goods become obsolete, treatment in reversing the cenvat credit taken 3. treatment of goods such as ramaterial stores, WIP, FG destroyed, and treatment in r....
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....eversing the cenvat credit Reply By CA. Surender Gupta: The Reply: In case of samples, duty is required to be paid - You need to apply Rule 6 read with Rule 11 of Valuation Rules In case the raw ma....
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....terials are obsolete or removed as such after availing the credit, you need to apply Rule 3 of Cenvat Credit Rules 2004. Where the Finished goods are destored to lost, you need to pay duty of excise ....
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....or apply for remission of duty before the appropriate authority - See Rule 21 of Central Excise Rules, 2002. Regarding WIP, to my mind if raw material has lost its original identity during manufacturi....
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....ng process, the same will be treated as finished goods.<br> Discussion Forum - Knowledge Sharing ....