Cess for purchase return

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..... Dear Sir, We have purchased child parts last month with excise duties and now this material got rejected, now we need to send the purchase return to party. But as per Notification No.14/2014 dt.01.03.2015 cess is not applicable. Calculation as follows Assessable Value ₹ 2,00,000 BED 12 % = 24,000 Cess 2% = 480 S.hed 1% = 240 The above duty amount we have taken credit. .....

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..... Kindly help us the how much duty we need to pay. Thanks, Bhaskar - Reply By Pradeep Khatri - The Reply = Dear Bhaskar, You need to pay 12.50% and accumulated credit of CESS, you need to submit a presentation to North Block for getting the refund. Regards YAGAY and SUN (Management, Business and Indirect Tax Consultants) - Reply By vuchcholla Bhaskar - The Reply = Dear Sir, Thank .....

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..... s for the valuable information. Thanks, Bhaskar - Reply By SANTOSH SHARMA - The Reply = I have a divergent view on this subject. As per Rule 3(5) of CCR, 2004 if anything on which cenvat has been claimed is returned back AS SUCH then credit will be reversed proportionately. If one has availed 12% + 2% + 1% then equal duty will be paid. Regards, SANTOSH SHARMA - Reply By Mehul Trive .....

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..... di - The Reply = In my view it is returned the material AS SUCH so you have to pay the duty which the party has charged to you in the excise Invoice, and it is 12 + 2 + 1. You have to charge in the invoice 12 + 2 + 1. Till date you have credit balance in your account for 2 % and 1 %. - Reply By JSW CEMENT LIMITED - The Reply = Dear Mr. Bhaskar, Even though Cess is not applicable vid .....

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..... e notification 14/2014 dt.01.03.2015, but as per cenvat credit rules, you should pay the duty whatever you have availed credit. There should not be any doubt on this. V.Venkat Raman - Cess for purchase return - Query Started By: - vuchcholla Bhaskar Dated:- 2-3-2015 Central Excise - Got 5 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion .....

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..... Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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