Excise duty Exemption under Notification 10/97

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..... Excise duty Exemption under Notification 10/97
Query (Issue) Started By: - Vivek anandhan Dated:- 16-12-2014 Last Reply Date:- 16-12-2014 Central Excise
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Central Excise
Dear Experts We are a manufacture of Generators, we have received an order from Research Institute for supply of Generator under Excise duty exemption. Customer has given exemption certificate obtained f .....

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..... rom Department of Atomic Energy. Whether we can supply Generator set under this notification. Also whether we need to give reversal of CENVAT at 6% for this exempted sale under Cenvat credit rule.. Reply By MUKUND THAKKAR: The Reply: Issue Id: - 2898 Dated: -16-03-2011 By:- Vivek anandhan Excise duty exemption under notification 10/9 .....

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..... 7 We are going to despatch our product without payment of duty under notification 10/97(Research Instute - Public funded), whether we have to reverse 5% of duty under theCenvat Credit Rule, 2004 (rule 6) Can any body explain me. V.Vekanandhan Sunbeam Generators Pvt ltd., Dated: - 16-03-2011 By: - Mangesh Lokre Ye .....

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..... s, You have to reverse an amount ( and not the Duty ) equal to 5% of the Value of the exempted goods, if you have not maintained the seperate account for dutiable and exempted goods. Example : If the Value of the Exempted Goods is ₹ 100, then you have to reverse ₹ 5. This will Non Cenvatable and Cost to you. This value will not reflect on the Excise Invoice hence not recoverable .....

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..... from the Customer. Reply By PAWAN KUMAR: The Reply: Dear Sir, As per my view, you need to reverse the six percent amount as per rule 6(3)(i) of value of exempted goods i.e. generators. This amount should be shown on invoice as per trade notice of Indore Commissionerate. Although it is not the duty of excise, It will not be charged to customer. Reply By Naveed S: The Reply: Yes sir, as explai .....

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..... ned above, you have to reverse 6% of the total value of the exempted goods. Previously it was 5% but substituted to 6 % vide notification no. 3/2011 CE(NT) dated 1.3.2011 w.e.f. 1.4.2011,
Discussion Forum - Knowledge Sharing .....

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