GOVT NOTIFICATION NO 51/96-CUSTOM DATED 23/07/1996

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....OVT NOTIFICATION NO 51/96-CUSTOM DATED 23/07/1996<br> Query (Issue) Started By: - JOSEPH MATHEW Dated:- 29-6-2015 Last Reply Date:- 30-6-2015 Central Excise<br>Got 4 Replies<br>Central Excise<br>We have received a certificate of registration from IIT Chennai for Excise exemption in terms of Govt Notification no 51/96-Customs dated 23/07/1996 and Central Excise duty exemption in terms of Govt.Notif....

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....ication No 10/97-Central Excise dated 01/03/1997 as amended from time to time. My query is this certificate says that we have not to pay excise, however our customs says we have to pay @6% excise duty. Kindly clarify,. regards Joseph Mathew Reply By Rajagopalan Ranganathan: The Reply: Sir, Notification No. 51/96-CUS dated 23.07.1996 states that 5% duty is leviable and exempt from whole of ad....

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....ditional custom leviable under section 3 of Customs Tariff Act. Under Central Excise, Notification No. 10/97-CE dated 01.03.1997 exempts the said goods from the whole of excise duty leviable. Therefore any goods imported for research purupose is leviable to 5% duty and any goods procured from domestic manufactures is fully exempted. Reply By JOSEPH MATHEW: The Reply: Sir, We do not keep finishe....

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....d goods seperate in our warehouse for goods supplied to R&D. However we take credit for raw materials purchased for production. As per tje excise officer, he is asking us to charge 6% excise for the goods sold and the party has given notification for the same. Please guide us is this right. Reply By Mahir S: The Reply: Sir, refer sub rule (6) of rule 6 of cenvat credit rules 2004, wherein 6 % ....

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....reversal is not required. in all other cases, it is mandatory for the 6 % reversal under rule 6. Reply By GANTI SARMA: The Reply: As per the notification 10/1997, you have to maintain separate records and your are not eligible to avail credit on inputs used in exempted final goods. Other wise you have to pay 6% on assessable value.<br> Discussion Forum - Knowledge Sharing ....