9911796707
TMI BlogObligation of a manufacturer or producer of final products.X X X X Extracts X X X X X X X X Extracts X X X X ..... consideration from the factory. Explanation 2.- Value of non-excisable goods for the purposes of this rule, shall be the invoice value and where such invoice value is not available, such value shall be determined by using reasonable means consistent with the principles of valuation contained in the Excise Act and the rules made there under. (2) A manufacturer who exclusively manufactures exempted goods for their clearance upto the place of removal shall pay the whole amount of credit of input and shall, in effect, not be eligible for credit of any inputs. (3) (a) A manufacturer who manufactures two classes of goods, namely :- (i) non-exempted goods removed; (ii) exempted goods removed, shall follow a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... endent of Central Excise giving the following particulars, namely :- (i) name, address and registration number of the manufacturer of goods; (ii) date from which the option under this clause is exercised or proposed to be exercised; (iii) description of inputs used exclusively in or in relation to the manufacture of exempted goods removed and description of such exempted goods; (iv) description of inputs used exclusively in or in relation to the manufacture of non-exempted goods removed and description of such non-exempted goods removed; (v) CENVAT credit of inputs lying in balance as on the date of exercising the option under this condition; (b) the manufacturer of final products shall determine the credit req ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ial year: Provided that where no final products were manufactured in the preceding financial year, the CENVAT credit attributable to ineligible common credit shall be deemed to be fifty per cent. of the common credit; (v) remainder of the common credit shall be called eligible common credit and denoted as G, where,- G = C - D; Explanation .- For the removal of doubts, it is hereby declared that out of the total credit T , which is sum total of A, B, D, and G, the manufacturer shall be able to attribute provisionally and retain credit of B and G, namely, eligible credit and eligible common credit and shall provisionally pay the amount of credit of A and D, namely, ineligible credit and ineligible common credit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is sum total of - (a) value of non-exempted goods removed; and (b) value of exempted goods removed; during the financial year; (d) the manufacturer shall pay on or before the 30th June of the succeeding financial year, an amount equal to difference between the total of the amount of Annual ineligible credit and Annual ineligible common credit and the aggregate amount of ineligible credit and ineligible common credit for the period of whole year, namely:- [{A(Annual) + D(Annual)} - {(A+D) aggregated for the whole year)}], where the former of the two amounts is greater than the later; (e) where the amount under clause (d) is not paid by the 30th June of the succeeding financial year, the manufacturer of good ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se (d), if any, with the date of payment of the amount; (iv) interest payable and paid, if any, determined as per the provisions of clause (e); and (v) credit determined and taken as per the provisions of clause (f), if any, with the date of taking the credit. (5) Where a manufacturer has failed to exercise the option under sub-rule (3) and follow the procedure provided under sub-rule (4), the Central Excise Officer competent to adjudicate a case based on amount of CENVAT credit involved, may allow such manufacturer to follow the procedure and pay the amount referred to in clause (ii) of sub-rule (3), calculated for each of the months, mutatis-mutandis in terms of clause (c) of sub-rule (4), with interest calculated at the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he provisions of sub-rules (1), (2) and (3) shall not be applicable in case the excisable goods removed without payment of duty are either- (i) cleared to a unit in a special economic zone or to a developer of a special economic zone for their authorised operations ; or (ii) cleared to a hundred per cent . export-oriented undertaking; or (iii) supplied to the United Nations or an international organisation for their official use or supplied to projects funded by them, on which exemption of duty is available under notification of the Government of India in the Ministry of Finance (Department of Revenue) No.108/95-Central Excise, dated the 28th August, 1995, number G. S R. 602 (E), dated the 28th August, 1995 ; or (iv) s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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