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TMI Blogfield debitX X X X Extracts X X X X X X X X Extracts X X X X ..... field debit X X X X Extracts X X X X X X X X Extracts X X X X ..... nvoice as field claim warranty for this defect to our overseas supplier. Now our question whether we have reverse the cenvat credit for the value of the invoice raised or what is the procedure. Kindly guide us in this issue. Thanks & Regards, S.Ramakrishnan Reply By KASTURI SETHI: The Reply: Dear Sir, In this situation, duty-paid inputs/components have not been used in the manufacture of du ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tiable final product. It is a fact.Component becomes scrap/unusable, it being un-repairable. It is also a fact that duty already stands deposited into Govt. account which would not be refunded to the payer in any form whether drawback or refund (It is supposed.). Thus first condition of usage of the component in the manufacture of final product has not been fulfilled.Second condition stands fulfil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... led as no chance of refund of duty. If you are able to re-export the defective component, then you can claim drawback. In that situation, you will have to reverse the credit taken. However, even if you do not re-export the goods but gets the amount (including the element of Customs duty/CVD etc) back from the overseas supplier, you are required to reverse the cenvat credit on the ground that none ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has right to keep the amount of Govt. duty in one's pocket. X X X X Extracts X X X X X X X X Extracts X X X X
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