TaxTMI 
TaxTMI 
TaxTMI 
EXCISE RULES
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....XCISE RULES<br> Query (Issue) Started By: - JITENDER THAREJA Dated:- 9-7-2014 Last Reply Date:- 20-7-2014 Central Excise<br>Got 3 Replies<br>Central Excise<br>We purchased CI Castings but spoiled duri....
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....ng processing. Against this CENVAT Credit was taken and we now propose to dispose off as CI Scrap at scrap rate. Please intimate applicable Excise Rule in this respect or else advise us suitably. Than....
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....ks. Reply By Rajagopalan Ranganathan: The Reply: Sir, CI Castings spoiled during processing is classifiable under Heading 72.04 of first schedule to Central Excise Tariff Act, 1985 as Ferrous wast....
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....e attracting duty @12%. Therefore you can clear such CI Castings as scrap/waste for re-melting and for payment of duty on such scrap you can utilise the credit taken on C I Castings. Reply By Naveed ....
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....S: The Reply: Scrap is to cleared on issuance of Excise Invoice under rule 11 and after entering the same in the Daily Stock Register under rule 10 of Central Excise Rules , 2002; and on payment of d....
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....uty on such Scarp Value. Reply By JITENDER THAREJA: The Reply: THANKYOU VERY MUCH RAJAGOPALAN RANGANATHAN JI and NAVED .<br> Discussion Forum - Knowledge Sharing ....