[aaykarbhavan] Fw: Amendment to CENVAT CREDIT Rules [1 Attachment]

----- Forwarded Message -----
From: CA. VMV SUBBA RAO <vmvsrao@gmail.com>
To:
Sent: Saturday, 28 September 2013 7:53 AM
Subject: Amendment to CENVAT CREDIT Rules

AMENDMENT TO CENVAT CREDIT RULES

Analysis of the amendment:

With Notification No. 12/2013-CE(NT) dated 27.09.2013, if any capital goods are being removed as waste or scrap, then instead of following the reversal formula as contained in Rule 3(5 A), the manufacturer has to reverse the amount equal to the duty leviable on the transaction value for the sale of capital goods as waste/scarp

--

Best Wishes

CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
           +91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
           vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx

http://vmvsraoco.icai.org.in/

Member- IT Committee of SIRC of ICAI

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