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TMI BlogCenvat credit on goods received free of costX X X X Extracts X X X X X X X X Extracts X X X X ..... Whether Cenvat credit can be allowed on the imported goods supplied free of cost against the low grade material supplied initially. Both the consignments are accounted for in the excise records howev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er in the accounts/purchase ledger the free goods has not been accounted for as purchase and the value of this goods not considered for valuation in balance sheet's closing stock. Whether the CVD an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d SAD paid on the free goods can be allowed as Cenvat credit? - Reply By sri srivathsan - The Reply = The relevant Factor for taking cevat credit is manufature not the factors like replacement etc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so assesee can take only if its uased in relation to manufacture - Reply By Surender Gupta - The Reply = I am in full agreement with the view of Mr. Sri Srivathsan that as long as imported goods hav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e been used in relation to manufacture of excisable goods, you can avail cenvat credit of CVD paid on such goods even though such goods have been received free of cost. - Cenvat credit on goods receiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed free of cost - Query Started By: - shaji thomas Dated:- 3-11-2010 Central Excise - Got 2 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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