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what is cenvat credit expain it
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Answer Posted / sanjeev kumar mahajan
i agree with the solution by mr. Ramkumar .. Nair. subject
to the one correction that "At the time of
selling his manufactured goods, he is liable to pay the
excise duty".Actully the manufacturer become liable to pay
immediately on the manufure of the final product not at the
time of sale of manufacure goods. Wallace floor mill CAse
and Bombay tyre international Ltd. (1983) case. Further
collection can be delayed till the sale of final good.
Reference of Articl 265 of constitution - for levy of
tax ...... Thus, practicly CCR can be utilized at the time
of sale of final good or provision of services. Conclusion
Mr. Ramkumar is otherwise correct. Keep it up. Regards....
| Is This Answer Correct ? | 22 Yes | 13 No |
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