Removal Of Goods As Such Excise Rules All You Need To Know
Removal of Goods as Such – Excise Rules As per CENVAT credit rules 2004 a manufacturer/service provider can avail the credit on input materials/services he used to manufacture/provide the output/service. Rule 3(5) of CENVAT credit rules 2004: This rule says that in the case of raw materials or machinery which are purchased with an intention of using in production and on which the CENVAT credit has already availed, are removed as such from the premises of the service provider or manufacturer then he is required to reverse or pay an amount equal to the CENVAT credit taken in respect of such materials and the removal should be under invoice....