Return of Duty Paid Goods to the Factory, Rule 16 of the said Rules provides for return of any goods, on which duty has been paid at the time of removal. PART IV Return of duty paid goods to the factory Return of duty paid goods 1.1 Rule 16 of the said Rules provides for return of any goods, on which duty has been paid at the time of removal, to the factory for being re-made, refined, re-conditioned or for any other reason. In such cases, the assessee shall state the particulars of such return in his records and shall be entitled to have CENVAT credit of the duty paid as if such goods are received as inputs under the CENVAT Credit Rules, 2001 and utilise this credit according to the said rules. As per this rule the goods should return to the same factory in which they were produced. 1.2 If the goods so returned are subjected to certain process which do not amount to manufacture, the manufacturer shall pay an amount equal to the CENVAT credit taken. 1.3 In any other case [where the returned goods are subjected to process(es) amounting to manufacture] the manufacturer shall pay duty at the rate applicable on the date of removal and on the value determined under Section 4 or Section 4A of the Act, as the case may be. 1.4 In the event the assessee has any difficulty, the Commissioner is empowered to resolve the same and permit the entry of the goods into the factory and the availment of CENVAT credit thereon. For this the Commissioner, either on case to case basis by special order or to be applied to "particular type of case" by general order, impose such conditions as may be necessary for safeguarding interest of revenue.
Get Sample Now Which service(s) are you interested in? Export Data Import Data Both Buyers Suppliers Both OR Exim Help + Exim News Date: 08-06-2024 RBI holds rates amid food inflation fears Date: 08-06-2024 CBIC clarifies on display assembly of mobile phones for levy of 10 pc import duty Date: 08-06-2024 Central Excise Bill may be introduced in budget session Date: 05-06-2024 BJP-led NDA's narrow majority shifts focus to rural spending and increased private investments Date: 05-06-2024 NEW DELHI: SBI(Rs. 9837.49 crore), BEL(Rs. 7206.60 crore), HAL(Rs. 7124.60 crore), Adani Ports SEZ(R Date: 04-06-2024 Somany Ceramics is this week's top stock; why analysts are bullish Date: 04-06-2024 Oil falls more than $1 on worries of supply rising later in 2024 Date: 04-06-2024 Oil falls more than $1 on worries of supply rising later in 2024 Date: 31-05-2024 India's infrastructure leap under PM Modi: Former NITI Aayog CEO Kant highlights nation's capex driv Date: 31-05-2024 GCCs see regulatory compliance as key for India expansion: Survey What is New? Date: 02-05-2024 Notification No. 34/2024 - Customs (N.T.) Exchange Rate Notification No. 34/2024-Cus (NT) dated 02.05.2024-reg. Date: 18-04-2024 Notification No. 30/2024 - Customs (N.T.) Exchange Rate Notification No. 30/2024-Cus (NT) dated 18.04.2024-reg. Date: 15-04-2024 Notification No.29/2024-CUSTOMS (N.T.) Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg Date: 12-04-2024 NOTIFICATION No. 09/2024 – CENTRAL TAX Seeks to extend the due date for filing of FORM GSTR-1, for the month of March 2024 Date: 10-04-2024 NOTIFICATION No. 08/2024- Central Tax Seeks to extend the timeline for implementation of Notification No. 04/2024-CT dated 05.01.2024 from 1st April, 2024 to 15th May, 2024 Date: 09-04-2024 Notification No. 28/2024-CUSTOMS (N.T.) Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg. Date: 08-04-2024 Notification No 07/2024 – Central Tax Seeks to provide waiver of interest for specified registered persons for specified tax periods Date: 05-04-2024 Notification No. 23/2024-Customs Seeks to amend No. 64/2023-Customs, dated the 7th december, 2023 in order to allow duty free imports of yellow peas with bill of lading issued on or before 30.06.2024 Date: 04-04-2024 Notification No. 27/2024 - Customs (N.T.) Exchange Rate Notification No. 27/2024-Cus (NT) dated 04.04.2024-reg Date: 02-04-2024 Notification No. 22/2024-Customs Seeks to fully exempt the applicable export duty on exports of Kalanamak rice not exceeding 1000 MTs subject to the specified conditions.
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