Reversal of CENVAT Credit on inputs return as such

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..... Reversal of CENVAT Credit on inputs return as such
Query (Issue) Started By: - Pradeep Jain Dated:- 9-3-2015 Last Reply Date:- 9-3-2015 Central Excise
Got 2 Replies
Central Excise
Dear Si .....

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..... r, Rate of Excise Duty has been changed w.e.f. 01.03.15 . ED now is 12.5% in place of 12% and Edu. Cess and SHE Cess has no more. Now in case of return of goods as such to supplier Excise dut .....

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..... y is payable equal to CENVAT Credit taken , now in this case at what rate the amount of CENVAT credit would be reversed. Regards Pradeep Jain Reply By MUKUND THAKKAR: The Reply: Dear pradeep, Whe .....

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..... n you cleared INPUT AS SUCH. you should reversed an amount equal to the Cenvat credit taken. you are not paying any duty. just reversed amount . please add 2% and 1% as and when cleared as su .....

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..... ch. Reply By Naveed S: The Reply: Sir, Till any clarification is provided, you can reverse whatever u feel is appropriate. I agree with above views, as duty is not paid, BUT only CENVAT credit av .....

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..... ailed is being reversed.
Discussion Forum - Knowledge Sharing .....

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