9911796707
TMI BlogPassing on of the credit of duty paid yarn by the exempted powerloom units to multiple buyersX X X X Extracts X X X X X X X X Extracts X X X X ..... eaver only in cases when the input documents are endorsed in full i.e. in favour of ONE person. For those who send their exempted grey fabrics, made from a single consignment of yarn (i.e. yarn covered under single input invoice), to various users, this option is not available. 02. The power loom weavers who are availing of the aforesaid clearance based exemption i.e. full exemption upto first annual clearance of Rs. 25 lakhs, have represented that a mechanism may be devised so that they can pass on the credit even if their exempted final products, made from a single consignment of yarn and covered under single invoice, is sold to more than one user. The Board, having considered the issue, have devised the following procedure :- Thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ils of (a) his input/inputs and the related invoice/invoices,(b) particulars of duty paid thereon and (c) the proportionate amount of excise duty paid on inputs i.e. yarn, which is attributable to have been used in the manufacture of the fabrics being cleared under this challan. The ORIGINAL copy of this challan?would be an eligible document for the buyer to claim CENVAT credit to the extent of such attributable duty. (Please see notification No. 54/2003- CE(N.T.), dated 9 th June, 2003]. Such exempted units shall file a quarterly statement in a format prescribed under notification No. 54/2003- CE(N.T.), dated 9 th June, 2003, showing the quantity and value of goods received as well as sold and the proportionate credit passed on. The pers ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e against the Invoice (In Rs.) (5C) 1. 2. CONSUMPTION OF RAW MATERIAL AND PRODUCTION/ CLEARANCE OF FINISHED GOODS S.No. Quarter ending on Consumption of yarn during the quarter., 1.Quantity (In Kgs./ Mts.) 12.Value (In Rs.) Production of fabrics during the quarter 1. Quantity (In Kgs./Mts.) 2. Value(In Rs.) Ratio =The production of fabrics over the consumption of yarn (1).Of quantity (2).Of value Clearance of goods during the quarter 1.Quantity (In Kgs./Mts.) 2.Value (In Rs.) Cumulative value of clearnce during the financial year, since 1 st may, 2003 (in Rs.) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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