Upgrad LLM

cenvat on scrap


Sir,

We are a transformer manufacturer  making products under heading 85042100 and 85042200. We have bought CRGO Steel Off Cut through e-auction, one of the raw materials required for producing transformer. The seller raised the invoice with descripttion " Ferrous Scrap of CRGO Steel Off Cut / Reels" under heading No. 72043000. They have charged 12.36% excise duty. Can we eligible to take CENVAT credit against this purchase as we use this as input.  Your kind reply shall be appreciated.

Best regards 

Asa Dev

 
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Self Consultancy of Excise Customs and Service Tax

YES, YOU CAN TAKE CENVAT CREDIT ON SUCH INVOICE AS YOU WILL CONSUME THIS SCRAP AS AN INPUT IN THE MANUFACTURING OF YOUR FINAL PRODUCTS.

THANKS

R.K. GARG

(ADVOCATE, Customs, Central Excise & Service Tax)

 
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