Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: cpt :: list of goods taxed at 4% :: empanelment :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: ACCOUNTING STANDARD :: TDS :: ACCOUNTING STANDARDS :: VAT RATES :: articles on VAT and GST in India
 
 
« Latest Circulars »
 Formation of new districts in the State of West Bengal - Assignment of Lead Bank Responsibility
 Investment by Foreign Portfolio Investors in Corporate Debt Securities – Review
 RBI-Issuance of Rupee Denominated Bonds (RDBs) Overseas
 Inclusion of “Suryoday Small Finance Bank Limited” in the Second Schedule to the Reserve Bank of India Act, 1934
  Trade Repository for OTC Foreign Exchange and Interest Rate Derivatives
 RBI to regulate peer-to-peer lending firms
  Export Data Processing and Monitoring System (EDPMS) Issuance of Electronic Bank Realisation Certificate (eBRC)
 Export Data Processing and Monitoring System (EDPMS) Issuance of Electronic Bank Realisation Certificate (eBRC)
 Auction for Sale (Re-issue) of Government Stock (GS)
 RBI-Auction of Government of India Dated Securities September 18, 2017
 RBI releases Handbook of Statistics on the Indian Economy 2016-17

Application of provisions of Section 5A(1A) - Central Excise Circular No. 940/01/2011
January, 18th 2011
                                                                                          Circular No.  940/01/2011-CX

 

 

F.No.262/117/2010-CX8

 Government of India
Ministry of Finance
Department of Revenue
 (Central Board of Excise & Customs)

 

New Delhi, dated the 14th January, 2011

To,

All Director Generals,

All Chief Commissioners of Central Excise (including LTU),

All Commissioners of Central Excise (including LTU).

 

Sir/ Madam, 

 

 

Subject: Application of provisions of Section 5A(1A) of the Central Excise Act, 1944-reg.

 

        

  Attention is invited to Boards circular No. 937/27/2010-CX dated 26.11.10 issued from F.No.52/1/2009-CX1 (Pt.), wherein based on the opinion of the Law Ministry, it was clarified that in view of the specific bar provided under sub-section (1A) of Section 5A of the Central Excise Act, 1944, the manufacturer cannot opt to pay the duty in respect of unconditionally fully exempted goods and he cannot avail the CENVAT credit of the duty paid on inputs.

2.     It is further clarified that in case the assessee pays any amount as Excise duty on such exempted goods, the same cannot be allowed as CENVAT Credit to the downstream units, as the amount paid by the assessee cannot be termed as duty of excise under Rule 3 of the CENVAT Credit Rules, 2004.

3.     The amount so paid by the assessee on exempted goods and collected from the buyers by representing it as duty of excise will have to be deposited with the Central Government in terms of Section 11D of the Central Excise Act, 1944 . Moreover, the CENVAT Credit of such amount utilized by downstream units also needs to be recovered in terms of the Rule 14 of the CENVAT Credit Rules, 2004.

4.      Trade & Industry as well as field formations may be suitably informed.

5.      Receipt of this circular may kindly be acknowledged.

 

6.      Hindi version will follow.

 

Yours faithfully,

 

(Amish Kumar Gupta)

OSD (CX-8)

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions