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TMI BlogExcise Reverse or notX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir, We have supplied goods in Mega Power Project at Sagardighi, west Bengal. Also we have not created separate books of account. We will take CENVAT credit against material procured for this pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oject. Now Excise department is asking to take 5% reverse on total basic sale value. As this is mega power project, are we liable tp pay 5% reverse ? Please guide us. - Reply By MARIAPPAN GOVINDARAJ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AN - The Reply = The CENVAT Credit Rules requires to maintain separate books of account for exempted goods as well as dutiable goods and also for exempted services as well as taxable services. If yo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... u are supplying both exempted goods and dutiable goods you are having an option. If you are not maintaining separate books of account you have to pay the percentage of tax as mentioned in your query ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . - Reply By Ganeshan Kalyani - The Reply = I agree with Sri Mariappan Sir. - Reply By KASTURI SETHI - The Reply = I support the views of Sh.Maiappan Govindarajan, Sir - Excise Reverse or not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Query Started By: - CHINTAN SHAH Dated:- 30-10-2017 Central Excise - Got 3 Replies - Central Excise - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Managemen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t 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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