Reversal of CENVAT Credit on inputs return as such, Central Excise

[Pradeep Jain]

Dear Sir,

Rate of Excise Duty has been changed w.e.f. 01.03.15 . ED now is 12.5% in place of 12% and Edu. Cess and SHE Cess has no more. Now in case of return of goods as such to supplier Excise duty is payable equal to CENVAT Credit taken , now in this case at what rate the amount of CENVAT credit would be reversed.

Regards

Pradeep Jain

Posts / Replies

[MUKUND THAKKAR]

Dear pradeep,

When you cleared INPUT AS SUCH. you should reversed an amount equal to the Cenvat credit taken.

you are not paying any duty. just reversed amount . please add 2% and 1% as and when cleared as such.

[Naveed S]

Sir,

Till any clarification is provided, you can reverse whatever u feel is appropriate.

I agree with above views, as duty is not paid, BUT only CENVAT credit availed is being reversed.