CENVAT REVERSAL NOT REQUIRED ON ETHANOL IF SUPPLIED TO PSU FOR BLENDING WITH PETROL
CBEC vide its Notification No. 21/2015-Central Excise (N.T.) dated 07-10-2015 provided that provision of reversal of Cenvat Credit [Rule 6 (1), (2), (3) and (4) of Cenvat Credit Rules, 2004] not applicable on following goods:
“Ethanol produced from molasses generated from cane crushed in the sugar season 2015-16 i.e. 1st October, 2015 onwards, for supply to the public sector oil marketing companies, namely, Indian Oil Corporation Ltd., Hindustan Petroleum Corporation Ltd. or Bharat Petroleum Corporation Ltd., for the purposes of blending with petrol.