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TMI BlogWritte off some SFG Material and transfer to scrap locationX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir, we write-off some stock like (SFG R.M )and same items are transfer to scrap location. and when we clear the scrap from factory we paid Excise duty on that scrap. So in this above case we need to pay Excise duty for the write off the SFG and R.M or not ? Swapneswar Muduli - Reply By Rajagopalan Ranganathan - The Reply = Sir, If you remove SFG on payment of duty then yo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... u need not reverse the credit taken on inputs used in the manufacture of such SFG. In case of RM you should pay the duty on transaction value or the credit taken on such RM whichever is higher. You need not reverse the credit in view of write-off of SFG RM since you are paying appropriate duty on their removal from your factory. - Reply By YAGAY AND SUN - The Reply = Rule 3(5B) of the CEN ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... VAT Credit Rules, 2004 , provides that if the value of any input on which Cenvat credit has been taken is written off fully in the books of accounts, then the manufacturer is required to reverse the credit taken on the said input. For details please check Circular No. 907/27/2009-CX, dated 07.12.2009 - Reply By Ganeshan Kalyani - The Reply = I agree with the views of Sri Rajagopalan Sir. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hanks. - Writte off some SFG Material and transfer to scrap location - Query Started By: - Swapneswar muduli Dated:- 6-2-2017 Central Excise - Got 3 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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