Reversal of Cenvat Credit supply made under Notification N.33/2012-CE dated 09.07.2012 against SHIS DUTY CREDIT SCRIP, Central Excise

[shahid hashmi]

Please advice whether reversal of cenvat credit in terms of Rule 6 (3) of Cenvat Credit Rules 2002 are applicable in respect of clearances made without payment of Central Excise Duty under Notification No.33/2012-CE dated 09.07.2012 against Status Hoder Incentive Scheme Duty Credit Scrip.

Posts / Replies

[Pradeep Khatri]

Dear Shahid,

We hope that following judgment will be helpful to you. Though, it is regarding SFIS not pertaining to SHIS, as contention remains the same.

2013 (4) TMI 303 - GUJARAT HIGH COURT

Regards

YAGAY and SUN

(Management and Indirect Tax Consultants)

[SANTOSH SHARMA]

Dear Mr. Shahid,

The said issue was raised by field formations across the country. The Board has clarified this matter by issuing a circular No. 973/07/2013-CE Dated 04/09/2013 that duty debited under SHIS scrips and some other scrips like FMS, FPS etc wil be treated as goods as payment of duty and Rule 6 of CCR, 2004 will nor apply.

Hope this matter is clear once and for all..

Regards,

SANTOSH SHARMA

 

[Naveed S]

Yes, no such reversal is required .