suneel (partner) 01 May 2013
We are manufacturer of machinaries in Gujrat, We have supplied same machinaries to one of our client under SHIS SCHEME of central goverment as the machinaries where capital goods to them.
Now our range on filing ER 3 is saying that we have to revert 6% of the credit taken as input reversal. what should we do?
Ramesh Chandra Verma (advocate) 09 August 2013
As per various judgments, clearances made against SHIS scrip are not to be treated as exempted goods. Hence there is no question of reversal/payment of any cenvat/duty on the value of goods cleared against SHIS scrips.
regards
R C Verma
advrcverma@gamil.com
Mob:09810525780 / 0888 281 281 8
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