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TMI BlogSection 73(b) of the Finance Act, 2011 as applicable to Spare parts and Components of Construction Equipment - Regarding.X X X X Extracts X X X X X X X X Extracts X X X X ..... f excise duty on packing, repacking of parts, components and assemblies of goods falling under tariff item 8426 41 00 , 8427 , 8429 , 8430 10 vide Section 73(b) of the Finance Act, 2011. 3. The records of the discussion held in the meeting and the decision taken is enclosed for implementation and necessary action. This issues with the appeal of JS (TRU-I). Enclosure Record of Discussion in the Meeting on the Section 73(b) of the Finance Act, 2011 issues as applicable to spare parts and components of construction equipment held on 10th August 2011 at North Block, New Delhi A meeting of Commissioners of Central Excise having units manufacturing auto components in their jurisdiction was held on 10-8-2011 at 11 AM i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ry association is that if duty is charged on the packing, repacking, labelling, re-labelling other such activities retrospectively, credit of duty paid on inputs brought into the factory during the period and used in or in relation to manufacture of that products that were cleared during the period from 29th April, 2010 to 8th April 2011 should also be permitted. It was agreed by all the participants that CENVAT credit is available subject to the production of necessary duty paying documents prescribed in the Rules. The credit of eligible duties can then be utilized for payment of excise duty on final products in terms of section 73(b) of the Finance Act, 2011. 5. As regards the exclusion of opening stocks of spare parts as on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been supplied to another warehouse or godown as stock transfer, supplementary invoice/challans indicating central excise duty on such transferred goods shall be issued and such supplementary invoices can then be used by the manufacturers for the purpose of availing the CENVAT credit. 6. The members also deliberated regarding the exclusion of parts, which are not packed/labeled but may have been affixed with an identification tag, from excise levy. It was decided that Parts/components and sub-assemblies which are cleared as Original Equipment to be used by the Industrial/Institutional users units would be governed by the transaction/contractual value under section 4 of the Central Excise Act , whereas spare parts/components sold as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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