CENVAT Credit Not Reversible for Raw Materials Lost in Fire Before Becoming Finished Goods, Per Rule 21.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....CENVAT credit - destruction of raw materials and semi-finished goods by fire - the input or semi-finished goods did not reach the stage of finished goods and the input/semi-finished goods destroyed - the provision of reversal of CENVAT Credit, which is with reference to Rule 21 in respect of finished goods is not applicable. - AT....