Rule-6.3(1)

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..... Rule-6.3(1)
Query (Issue) Started By: - Prabhakar Singh Dated:- 21-1-2016 Last Reply Date:- 25-1-2016 Central Excise
Got 6 Replies
Central Excise
Dear Sir. We are manufacture of Auto parts now we are planning to manufacture of Sewing machine parts also . sewing machine parts are exempted. My question is below. 1 - We amend RC. 2-we are eligible Rule 6(3)(1) of reversal of cenvat cr .....

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..... edit of 6%. Reply By Ganeshan Kalyani: The Reply: Yes you can either maintain separate books of accounts or go for 6% reversal of cenvat credit. Reply By Rajagopalan Ranganathan: The Reply: Sir, You are eligible to follow rule 6 (3) (1) of Cenvat Credit Rules,2004. What is your doubt? Please elaborate. Reply By KASTURI SETHI: The Reply: For amendment in Registration Certificate, go through No .....

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..... tification No. 7/2015-C.E. (N.T.) dated 01-03-2015.(Para No. 2 refers. Reply By CS SANJAY MALHOTRA: The Reply: Dear Mr. Prabhakar, Please note that if the Inputs are common for the manufacture of both Auto Parts and Sewing Machine Parts, you can go ahead with the options as per law cited by my Seniors in this trailing concern of yours. Do undertake anaylsis as to which option is better for yo .....

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..... u (a) Availing CENVAT on common Inputs and afterwards paying duty @ 6% on value of exempted goods OR (b) Maintaining separate set of books if inputs are identified on one to one basis. Not availing CENVAT or reversing the same on actual basis. Reply By Mahir S: The Reply: Yes, all replied posted above are relevant to your query and agreed. Reply By surya narayana: The Reply: The views express .....

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..... ed by all our learned friends are right and very clear. You may have to proceed with the following before exercising the option suitable to you. After your carrying out an analysis whether reversal of cenvat credit on common inputs is beneficial over taking credit on common inputs and reversal of 6% on the product value at the time of clearance. Before taking the beneficial one , you have to exe .....

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..... rcise that option and inform the same to your jurisdictional Excise Authorities. Pl. note once the option is exercised by way of intimation , you cannot withdraw the same in the remaining part of the financial year in which you have exercised the option. Regards Surya
Discussion Forum - Knowledge Sharing .....

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