Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: due date for vat payment :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: ACCOUNTING STANDARD :: TDS :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« Latest Circulars »
 RBI imposes penalty on Janata Urban Co-operative Bank Ltd., Wai, District Satara
 Monitoring of Foreign Investment under PIS in Indian Companies- Incorporation in Ban List–M/s HDFC Bank Ltd.
 Reserve Bank of India seeks Comments on Draft Circular on Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions
 Forward Rate Agreement (FRA) and Interest Rate Swap (IRS) - Withdrawal of Fortnightly return
 RBI-Foreign Investments in India
  RBI cancels the Licence of the Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, Pune, Maharashtra
  Finance Minister meets the Directors of the RBI Central Board
  RBI-Removal of limits on withdrawal of cash from Saving Bank Accounts
 Government of India nominates Dr. Rajiv Kumar, Dr. Ashok Gulati and Shri Manish Sabharwal on RBI Central Board
 RBI cancels the Licence of the Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, Pune, Maharashtra
 RBI-Removal of limits on withdrawal of cash from Saving Bank Accounts

Regarding CENVAT credit taken or utilized on the process cutting, slitting or printing of aluminium foils
April, 21st 2012

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, 
SUB-SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE 
(DEPARTMENT OF REVENUE)

 

Notification No. 24/2012 - Central Excise (N. T.)


New Delhi, the 19th April, 2012

 

            G.S.R. (E) . - slitting and printing of aluminium foils (hereinafter referred to as final product), falling under heading 7607 of the First Schedule to the Central Excise Tariff Act, 1985 ( 5 of 1986), the CENVAT credit taken or utilised, of the duty or tax or cess paid on inputs, capital goods and input services used in the making of the said final product, shall not be required to be reversed, notwithstanding that the process of cutting, slitting and printing of aluminium foils have been held as not amounting to manufacture by the Central Excise and Service Tax Appellate Tribunal by its order in Appeal No. 3181 of 2010 in the case of M/s Printo India Graphics (P) Ltd. Vs CCE, Delhi and upheld by the Supreme Court in Civil Appeal No. 8533 of 2011, subject to the following conditions, namely:-

 

(a) the said non-reversal shall be allowed only for the CENVAT credit taken upto the 15th  of March, 2012.

(b) the said non-reversal shall be allowed only when excise duty has been paid on removal of the said final product.

(c) the said assessee shall not prefer a claim of refund of the excise duty paid by him on the said final product:

           

            Provided that the CENVAT credit, if any, taken by the buyer of the said final product, of the excise duty paid by the said assessee on the said final product made and cleared up to the 15th March, 2012 shall not be required to be reversed. 

 

[F.No.4/2/2012-CX.1 Pt.]

 


(Madan Mohan)
Under Secretary to the Government of India.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

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