If the capital goods are cleared as Waste and Scrap, the manufacturer shall pay an amount equal to

the duty leviable on transaction value.

The buyer will be able to take credit of such amount

 

(clause (b) of sub-rule (5A) as read with rule 3(6))

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.